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A debt of $14325 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 6.9% for the first 6 years, and 9.1% for the next 4 years.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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