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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 $10,438 now, or
As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lump-sum amount of $10,438 now, or accept monthly payments of $207 for the next five years. If the money is placed into a trust fund earning 7.86% compounded quarterly , which is the better option and by how much?
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