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Tony owes $2500 and is going to repay the debt by making 2 equal payments of X, the first in 2 years and the second

Tony owes $2500 and is going to repay the debt by making 2 equal payments of X, the first in 2 years and the second 2 years afterward. If interest is charged at j12=8%. What is the value of X?

Ans: 1582.762369

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