A debt of $5000 can be repaid, with interest at 8%, by the following payments. Year Payment

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A debt of $5000 can be repaid, with interest at 8%, by the following payments.

Year Payment

1 $ 500

2 1000

3 1500

4 2000

5 X

The payment at the end of the fifth year is shown as X. How much is X?

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Engineering Economics Analysis

ISBN: 9780195168075

9th Edition

Authors: Ted G. Feller

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Question Posted: Mar 01, 2010 04:10 AM

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A debt of $5000 can be repaid, with interest at 8%, by the following payments. Year Payment

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The first four payments will repay a present su...View the full answer

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