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Sidney borrows $12000. The loan is governed by compound interest and the annual effective rate of discount is 6%. Sidney repays $4000 at the end

Sidney borrows $12000. The loan is governed by compound interest and the annual effective rate of discount is 6%. Sidney repays $4000 at the end of one year, X at the end of two years, and $3000 at the end of three years in order to exactly pay off the loan. Find X

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