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A company has decided to borrow 3 million TL to implement several projects

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A company has decided to borrow 3 million TL to implement several projects. The interest rate will be 7% per year. This debt will be paid by making payments of 250,000 TL at the end of each year. The Board of Managers is concerned that it will take too long to pay off this debt. i. How many years will it take to pay back this 3 million TL debt and its associated interest payments by making payments of 250,000 TL at the end of each year? ii. If the maximum payment period limited by the bank is 20 years, what will be the annual payments?