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kiersten borrows 2 0 , 0 0 0 from Sarah at a nominal annual interest rate of 9 % compounded monthly Kiersten will repay the

kiersten borrows

20, 000

from Sarah at a nominal annual interest rate of

9 %

compounded monthly Kiersten will repay the loan with two payments of P

.

the first payment of P will be at the end of three years and the second payment of P will be at the end of seven years. Determine P

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