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Person A donated 50 000 TL to a foundation. This donation is needed at the...

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Finance

Person A donated 50 000 TL to a foundation. This donation is needed at the end of each year. It is distributed to its owners from a donation fund with an annual effective interest rate of 5%. First 10 years of each year In the end, it is distributed as 2 000 TL, and in the following times as 3 000 TL. Until the fund is reset payments continue to be made, but an amount less than 3,000 TL in the last year remained. Accordingly, how many years have passed until the fund is reset and what is the remaining money in the fund Calculate how long?

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