The municipality of Trento has arranged to borrow P30 million in order to implement several public projects (flood control, drainage system, etc.). The interest rate will be 3% per year, payable at the end of each year. This P30 million debt will be retired by making principal payments of P5 million at the end of each year. The SB Members is concerned that it will take too long to pay off this debt. How many years will it take to fully pay the P30 million debt and its associated interest paymen

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