You have the alternative of paying for university fees today for a payment of $15,000 or, you can select a payment plan where you pay $6,000 in 11 months from today and another $11,000 in exactly 23 months from today.

If the interest rate is 6.2%p.a. compounding monthly, what is the advantage that the payment plan has over the upfront payment? (expressed in present day value rounded to the nearest cent; do not show $ sign or comma separators; if the payment plan is more costly than $15,000 today, your answer will show a negative eg. -300.35)