You are considering to purchase an apartment in your city costing Tk. 50,00,000. You have three offers:
(i) Pay full in cash.
(ii) Pay 25% of the cost in cash immediately and pay Tk. 6,60,000 each year for the next 10 years.
(iii) Pay 50% of the cost in cash and take a loan of Tk. 25,00,000 from BHBFC at 15% interest to be paid in equal monthly installment over the next 20 years.
Assume 12% opportunity cost, which offer you should accept?