Question: Submission file format: Word or excel document, with all the answers, clearly identifying all steps, results and including comments when requested Exercise 1 Your uncle

  • Submission file format: Word or excel document, with all the answers, clearly identifying all steps, results and including comments when requested

Exercise 1

Your uncle is offering you a deal,

  • To pay you at the end of every month, 1,000 EUR, during 15 years with a growing rate of 2% and an interest

    rate of 5% during the whole period.

  • Or paying you right now, 20,000 EUR.

    Confirm which option would you choose and the reason. (20 points)

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