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Flora borrows P at an annual effective rate if 6%. She agrees to repay the loan by making the following payments: A payment of 100
Flora borrows P at an annual effective rate if 6%. She agrees to repay the loan by making the following payments: A payment of 100 at the end of year 4, a payment of 600 at the end of year 6, a payment of 150 at the end of year 7, and and a payment of X at the end of year 9. The method of equated time can be used to determine that Flora could have also repaid the loan by making a payment of 850+X at approximately time t = 7.1429. Find X. - 700 O 750 550 600 0 650
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