The Novak family buys an apartment. When buying the apartment, they have two options:
the amount is settled by a one-off payment of £ 74200,
decide on 11 annual installment payment with installments in the amount of £ 6880.36.
The Bank bears interest with an interest rate of 3% 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?
