A loan of 10,800 is to be repaid over a 11-year contract by three initial payments of 2,000, 2,000 and 3,000 at the end of years 1, 7 and 10, respectively.

Hence, find a final amount X at the end of year 11 that needs to be paid to fully clear the debt given that the lender charges an annual nominal rate of interest of 8.7% convertible half-yearly