It is now January 1, 2019, and you will need $1,000 on January 1, 2023, in 4 years. Your bank compounds interest at an 8% annual rate. If your father offers to make the payments calculated in the previous question ($221.92) or to give you $750 on January 1, 2020 (a year from today), which would you choose? (option 1 or 2?)

(Previous option was: It is now January 1, 2019, and you will need $1,000 on January 1, 2023, in 4 years. Your bank compounds interest at an 8% annual rate. If you want to make four equal payments on each January 1 from 2020 through 2023 to accumulate the $1,000, how large must each payment be? (Note that the payments begin a year from today.))