7. Please provide a detailed solution. By hand.

then you The pote As a settlement for an insurance claim. Craig was offered one of two choices. He could either accepta lumo-sum amount of $12,916 now, or accept monthly payments of $20 for the next six years. If the money is placed into a trust fund eaming 4.43% compounded annually, which is the better option and by how much? The option is better by $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)