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Ed buys a TV priced at 580 by paying 50 in cash that day, then paying 110 every three months for one year (four payments
Ed buys a TV priced at 580 by paying 50 in cash that day, then paying 110 every three months for one year (four payments of 110), and a final payment of X in 15 months (three months after the final quarterly payment). Find the value of X if there is a three-month effective rate of interest of 3.5% charged during this 15-month period. X = 73.75
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