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Iggy borrows X for 14 years at an annual effective rate of 8%. If he...

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Iggy borrows X for 14 years at an annual effective rate of 8%. If he pays the principal and accumulated interest in one lump sum at the end of 14 years, he would pay 2118.75 more in interest than if he repaid the loan with 14 level payments at the end of each year. Calculate X. [6.a #06] 1.915 O 1.865 1.815 O 1.760 1.710

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