QUESTION $6$

You have a $7-$year loan of $$80,000.$ The borrower will pay $$8,500$ at the end of Year $1,$$$9,500$ at the end of $$7,500$ at the end of Year $3,$ plus $x$ at the end of each year from Year $4$ through Year $7.x$ is the fixed but unspecified cash flow. The loan's rate is $9\%.$ What is X$?$

$$22,3617\mathrm{.}01$

$$21,954\mathrm{.}25$

$$23,350\mathrm{.}31$

$$19,411\mathrm{.}02$