Your business associate who owes you $12000 offers to pay you either $10080 now or else to pay you 8 yearly installments of $1500, the first installment paid now. Assume a 5.9% market interest rate, compounded continuously.
How much would you have at the end of 8 years if you choose to take the $ 10080 offer now, and you use the market to earn interest on the funds?