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As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lump - sum amount of $
As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lumpsum amount of $now or accept quarterly payments of $ for the next ten years. If the money is placed into a trust fund earning compounded semiannually which is the better option and by how much?
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The quarterly paymentslump sum option is better by $
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
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