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A 20-year loan of 1000 is repaid with payments at the end of each year. Each of the first ten payments equals 150% of the
A 20-year loan of 1000 is repaid with payments at the end of each year. Each of the first ten payments equals 150% of the amount of interest due. Each of the last ten payments is X. The lender charges interest at an annual effective rate of 10%. Calculate X.
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