Becky won $108.000 by coming in first place at a chess tournament, and she has the option of receiving 4 quarterly payments of $27,000, with the first payment in 3 months, or 1 lump-sum payment of $108,000 occurring in 12 months. Once she receives her money, she plans on putting it in a savings account paying simple interest at an annual interest rate of 8.8% calculated quarterly. Becky's financial adviser told her that she'll lose" money if she takes the lump-sum payment, and Becky wants to calculate how much she'll "lose." Part IV: For her third payment of $27,000 occurring in 9 months, how many quarters will Becky be able to have the money in the bank before the lump-sum payment would have occurred? How much will Becky earn in interest on her third payment during this time?

Part V: How much will Becky earn in interest on all the payments combined? This is how much money she'll "lose" by taking the lump-sum payment.