Carl Hightop, a popular basketball player, has been offered a

three-year

salary deal. He can either accept

$4,100,000

now or accept

monthlymonthly

amounts of

$120,000

payable at the end of each

montn

If money can be invested at

4.3%

compounded

quarterly

which option is the better option for Carl 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.)