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Smith wants to accumulate $150,000 in a fund. He makes 15 annual deposits. For the first ten years he deposits $1,500 + tX into the
Smith wants to accumulate $150,000 in a fund. He makes 15 annual deposits. For the first ten years he deposits $1,500 + tX into the fund and for the last five years he deposits $1,000 into the fund. The fund has an annual effective interest rate of 5%. Find X.
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