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A debt of $5700 is due, with interest at j2 = 8%, in three years. It is agreed instead that the loan will be repaid
A debt of $5700 is due, with interest at j2 = 8%, in three years. It is agreed instead that the loan will be repaid with a payment of $X in one year and $3000 in two years. If money is worth j4 = 4%, what is the value of X
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