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You have 2,000,000 ISK. on your bank account and you plan to collect up to 8 million ISK in 10 years. You deposit X ISK
You have 2,000,000 ISK. on your bank account and you plan to collect up to 8 million ISK in 10 years. You deposit X ISK annually. and the next admission is after 24 months and then annually thereafter. Interest is 9%. What is the amount X so that you have 8 million ISK in 10 years
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