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A corporation invests $Xtoday in order to provide for 5 years of monthly payments of$5,000,first payment to be made in one months time.You are given

A corporation invests $Xtoday in order to provide for 5 years of monthly payments of$5,000,first payment to be made in one months time.You are given j3=3% and that simple interest is credited for fractional parts ofan interest period. Determine X.

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