Business, 12.04.2021 19:00 meiaalvizo2005

A $6,000 loan is being repaid with regular payments of X at the end of each year for as long as necessary plus a smaller payment one year after the final regular payment. Immediately after the ninth payment, the outstanding balance is three times the size of the regular payment (that is, 3X). If the annual interest rate i is 10%, what is the value of X

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A $6,000 loan is being repaid with regular payments of X at the end of each year for as long as nece...