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For 100000, Smith purchases a 36-payment annuity-immediate with monthly payments. Assume an effective annual interest rate of 12.68%. Find the unknown amount X if the

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For 100000, Smith purchases a 36-payment annuity-immediate with monthly payments. Assume an effective annual interest rate of 12.68%. Find the unknown amount X if the first payment is X and each subsequent payment is 50 more than the previous one

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