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4. A loan in the amount of 50,000 can be repaid by either of the following methods. (a) Payments of 30,000 at the end of
4. A loan in the amount of 50,000 can be repaid by either of the following methods. (a) Payments of 30,000 at the end of years two and four. (b) Payments of 35,000 at the end of three years and X at the end of five years. For both of these repayment methods, the annual effective interest rate is i. Find X
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