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A debt of $6853 is due at the end of 5 years. It is proposed...

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Finance

A debt of $6853 is due at the end of 5 years. It is proposed that $X be paid now, with another $X paid in 10 years' time to liquidate the debt. Calculate the value of X ( amount in dollars) if the effective annual compounding interest rate is 5.1% for the first 6 years, and 14% for the next 4 years.

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