With interest rate of 0%, PV= will be 1,500,000 and 2,100,000 respectively.
For interest rate if 10% then PV=
In 5years then: PV=
Therefore when the interests rate is 0% then it is better to take 2100000 since it has higher present value as compared to first option of 1,500,000.
For the interest rate of 10% then it is better to take 1,500,000 immediately as it has higher Present value than the second option.