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A loan of $ 1 5 , 0 0 0 is repaid with 2 5 payments made at the end of each year for 2

A loan of $15,000 is repaid with 25 payments made at the end of each year
for 25 years. The first payment is $100, the second payment is $200, and so on until the
tenth payment of $1,000. The final 15 payments are X per year. The annual effective
interest rate is 3% per year. Calculate X.

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