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Sidney borrows $18, 000.00. The loan is governed by compound interest and the annual effective rate of discount is 6%. Sidney repays $3, 400.00 at
Sidney borrows $18, 000.00. The loan is governed by compound interest and the annual effective rate of discount is 6%. Sidney repays $3, 400.00 at the end of one year, X at the end of two years, and $3, 800.00 at the end of three years in order to exactly pay off the loan. Find X.
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