Needs
Hannah needs 40,000 € to buy an apartment. She can save or pay 300 € each month. The interest rate on deposits is 2%, the monthly deposit is 300 €, the state bonus is 8.5% of the deposit, and the interest rate on the loan is 2.9%. She will be in the savings phase for 3 years. What will be the possible loan amount? How many years will it take to repay the construction loan?
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