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An investment requires an initial payment of 1 0 , 0 0 0 and annual payments of 1 , 0 0 0 at the end

An investment requires an initial payment of 10,000 and annual payments of 1,000
at the end of each of the first 10 years. Starting at the end of the eleventh year, the
investment returns five equal annual payments of X.
Determine X to yield an annual effective rate of 10% over the 15-year period.

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