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Question 3 : ( 3 0 points ) You want to invest 4 0 . 0 0 0 T L at the begimning of each

Question 3: (30 points)
You want to invest 40.000TL at the begimning of each year for the next 5 years. You have got following options: If you deposit your money in the bank, you get 5% interest income per year. Also, if you invest your money in a 3-year municipal-bond, you can get 6.5% per yeas and have a current market price equal to 104% of face value. Hovever, the government deducts 12% tax per year from the interest income you get from the bank. How should your investment be planned?
(Create only the LP model, do not solve the problemi)
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