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Gloria borrows 5,000 to be repaid over 34 years. You are given: (i) Her first payment is X at the end of year 1. (ii)
Gloria borrows 5,000 to be repaid over 34 years. You are given: (i) Her first payment is X at the end of year 1. (ii) Her payments increase at the rate of 20 per year for the next 19 years and remain level for the following 14 years. (iii) The effect rate of interest is 7% per annum. Calculate X. [4.h-i #35] O 200 0 240 O 255 0 275 0 220
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