As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lump-sum amount of $4635 now, or accept quarterly payments of $194 for the next eight years. If...

Extracted text: As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lump-sum amount of $4635 now, or accept quarterly payments of $194 for the next eight years. If the money is placed into a trust fund earning 6.18% compounded semi-annually, which is the better option and by how much? The option is better by $ (Rou est cent as needed. Round all intermediate values to six decimal places as needed.) lump sum quarterly payments