Mr Ahmet has 3.000 TL credit card debt to Kart Bank. He has not paid his debt for 3 months and then took bank loan from Rant Bank to pay his credit card debt at the end of 3rd month. Kart Bank charges 1,25% monthly late payment interest for credit card debt and Rant Bank charges 1,20% monthly interest for the loan. Rant Bank debt has 6 months maturity, principal and interest of the loan taken from Rant Bank will be paid in full at the end of 6th month. Using compounded interest
1-Find the amount MrAhmet needs to borrow from Rant Bank to pay his credit card debt.
2-Find the debt amount to be repaid to Rant Bank at maturity