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How many years do we have to pay if we want to have € 3800 on the account when paying the last installment? The amount of each installment is € 304, the capitalization is annual and the interest rate is 8%.
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Note: This problem has dynamic elements. This means elements such as numbers and consequently the step-by-step solution and the final answer may change overtime. Therefore, there may be a difference between a problem that is published online and the same problem exported into a PDF document.
We have to pay years.
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years.
