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Esteban borrows $20,000, and the loan is governed by compound interest at an annual effective interest rate of 6%. Esteban agrees to repay the lolan
Esteban borrows $20,000, and the loan is governed by compound interest at an annual effective interest rate of 6%. Esteban agrees to repay the lolan by making a payment of 10,000 at the end of T years and a payment of $12,000 at the end of 2T years. Find T.
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