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A Debt of $7000 Is Due with Interest at J2

question 56

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A debt of $7000 is due with interest at j2 = 8% at the end of 3 years.To repay this debt,a payment of $1500 is made at the end of 1 year,followed by a payment of $X at the end of 2 years.If money is worth j4 = 10%,what is the value of X so that the loan is fully paid off?


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