The Novak family buys an apartment. When buying the apartment, they have two options:
the amount is settled by a one-off payment of £ 94400,
decide on 15 annual installment payment with installments in the amount of £ 6922.67.
The Bank bears interest with an interest rate of 4% compounded annually.
Calculate which of the given options is the most favorable for the Novak family at the time of payment of the last installment?
