As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lump-sum amount of

$14,143

now, or accept

monthly

payments of

$165

for the next

ten

years. If the money is placed into a trust fund earning

7.48%

compounded

quarterly,

which is the better option and by how much?

The

lump sum

monthly payments

option is better by

$nothing.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)