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A twenty-year loan of $15,000 is being repaid with payments of X every other year beginning at the end of the second year, and with
A twenty-year loan of $15,000 is being repaid with payments of X every other year beginning at the end of the second year, and with additional payments of $3,000 each at the ends of years 3, 9, and 15. The effective annual interest rate is 4%. Calculate the payment amount X.
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