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4. (1pt) Michelle is going to pay off a loan of 30,000 with semi-annual payments at the end of each 6-month period. The loan is

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4. (1pt) Michelle is going to pay off a loan of 30,000 with semi-annual payments at the end of each 6-month period. The loan is being charged interest at a nominal rate of 5% convertible semi-annually. Michelle's 1st payment is X and each subsequent payment increases by one until the loan is paid off. If the loan term is 10 years, calculate X

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