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A 10,000 loan was made today with an annual effective interest rate of 12%. The loan was paid by making payments to a sinking fund for 8 years at an annual effective rate of 8%. After 5 years the interest rate on the loan increased to 14% with the same sinking fund payments plus an additional 2 annual payments of X after the original sinking fund payments.

Determine X

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92424992

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