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11. Iggy borrows X for 12 years at an annual effective rate of 7%. If he pays the principal and accumulated interest in one

11. Iggy borrows X for 12 years at an annual effective rate of 7%. If he pays the principal and accumulated interest in one lump sum at the end of 12 years, he would pay 911.88 more in interest than if he repaid the loan with 12 level payments at the end of each year. Calculate X.

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