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A man borrows $5750. A payment of $1140 is made 90 days later. A second payment of $1956 is paid 120 days after the first
A man borrows $5750. A payment of $1140 is made 90 days later. A second payment of $1956 is paid 120 days after the first payment. A third payment of X is due 41 days after the second payment, after which the loan balance is 0. The loan is charged a simple interest rate of r = 4%. What is X, if the Merchant
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