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1. You borrow an amount of money at an effective annual interest rate of 4.0%. You can pay it back with either 20 payments of

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1. You borrow an amount of money at an effective annual interest rate of 4.0%. You can pay it back with either 20 payments of $2,000 at the end of each year for 20 years or 3/4 as many payments (15) of $X at the end of each year for 15 years. What is the value of X

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