A debt of $3000 is due in 4 months and another $5000 is due in 9...

A debt of $3000 is due in 4 months and another $5000 is due in 9 months. Instead, it is agreed that a payment of $X, made in 3 months, followed by a payment of $4000 in 10 months, will fully pay off the loan. Using 9 months as the focal date, what is X if the simple interest rate on the loan is r = 10%?

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jeff jeffy answered 1 year ago

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