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QUESTION 5 You want to buy a mobile phone today. You can either (A) pay 9.60 a month for 3 years, with the first payment

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QUESTION 5 You want to buy a mobile phone today. You can either (A) pay 9.60 a month for 3 years, with the first payment due today, or (B) pay a single upfront cost of 249 today If the interest rate is 7.2% per annum, calculate the present value of (A) less the present value of (B), which represents the difference in cost between the two options. Give your answer to two decimal places

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