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Answer to Question #314617 in Financial Math for Ndi

Question #314617

Fatu took out an endowment policy. the first annual payment was RX whereafter it increased yearly by 1700.after 20 years the policy paid out 1 005 962.the applicable yearly interest rate is 10% the value of x is approximately


1. 11 816

2. 17 564

3. 6 500

4. 564


1
Expert's answer
2022-03-20T06:41:49-0400

The correct answer is 11816


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