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A company plans to take $1250000 bank credit for 11 years while i=30%. After some negotiations, manager of the company convince the bank for i=29%.

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A company plans to take $1250000 bank credit for 11 years while i=30%. After some negotiations, manager of the company convince the bank for i=29%. The decrease in interest rate result in a decrease in total debt. What is the approximate percantage of debt decrease? O a. 10% O b. 8% O c. 15% O d. 20%

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