Chief Auto Lubricants. Jahangir Ahmad of Chief Auto Lubricants took a loan in euros in 2013. Ed Adams, a new finance executive, has recently joined Chief Auto Lubricants. Ed asks Jahangir to pay out the loan as he believes that it is no longer a cheap debt. Using the table below, check whether Ed is correct.

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Annual euro payments on debt agreement () 2013 2014 2015 20,000,000 20,000,000 20,000,000 Average exchange 0.011 0.012 0.014 rate, /INR Annual debt service (INR)