As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lump-sum amount of $4090 now, or accept quarterly payments of $193 for the next six years. If the money is placed into a trust fund earning 6.51% compounded annually, which is the better option and by how much? The ------- sum option is better by -------?

A property was purchased for $3563.00 down and payments of $861.00 at the end of every year for 9 years. Interest is12% per annum compounded monthly.

A. What was the purchase price of the property?

B. How much is the cost of financing?