you have just (t-0) won in a lottery the equivalent of an extra student grant of DKK 6000 each month, calculated in real prices. the price level at t=0 s the base of the grant and the extra grant is paid out over the next 4 years. the first extra grant is paid out in exactly one month. when the extra monthly grant is paid out it off course paid out calculated in a nominal term,

the nominal annual discount rate is 1.9%. the expected annual rate of inflation in the next 4 years is 1.2%?