EXERCISE VI $(2$ points$)$

You receive an advertisement for a possible consumption loan with the following characteristics Amount borrowed: EUR $2,000$ Duration of the loan: $2$ years

Monthly payment: EUR $95\mathrm{.}90$ with insurance $/$ EUR $91\mathrm{.}10$ without insurance

First monthly payment on signing the contract

Total cost of the loan: EUR $301\mathrm{.}60$ with insurance $/$ EUR $186\mathrm{.}40$ without insurance Application fee: EUR $20(1\%$ of the borrowed capital, up to EUR $75)$

Annual percentage rate: $9\mathrm{.}91\%$

What do you think of this offer?