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Please refer to the table equation below if necessary. Thank you! Alice is an obsessive planner and she plans to buy a new laptop in
Please refer to the table equation below if necessary. Thank you!
Alice is an obsessive planner and she plans to buy a new laptop in 6 years (t = 6). The laptop costs $1,200 today (t = 0) but its price inflates at 4% per year. To finance this purchase, Alice deposits $200 each year during years t = 1,2,3, and then deposits $X during years t = 4, 5, 6. The annual effective interest rate is i = 10%. Calculate X.
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