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A loan of amount $12, 000 at a nominal annual interest rate of 9% compounded monthly is repaid by monthly payments over two years, starting

A loan of amount $12, 000 at a nominal annual interest rate of 9% compounded monthly is repaid by monthly payments over two years, starting one month after the loan is made.

If the monthly payment for the first year is X and for the second year is (1.5)X, find the monthly payment amount for the second year.

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