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A company wants to accumulate 20000 TL at the end of 4 years. It starts quarterly payments in a bank account which pays J4=5%. a)

A company wants to accumulate 20000 TL at the end of 4 years. It starts quarterly payments in a bank account which pays J4=5%. a) Find the size of quarterly payments. b) After 2 years, bank decreases the rate to j4= 4%. Find the size of quarterly payments for last 2 years required to meet the 20000TL goal?

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