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6. Cindy borrows $7,000 from the bank today. She promises to make the following repayments: $1, 500 in 1 year, $3,000 in 4 years and

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6. Cindy borrows $7,000 from the bank today. She promises to make the following repayments: $1, 500 in 1 year, $3,000 in 4 years and the last repayment of X in 6 years. The interest rate is 6% p.a. compounded monthly. Find X. (Correct to the nearest cent.)

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