Alice gives Bob a loan of $5,000 to be repaid by 10 annual payments of $600. Just after Bob makes his 5th payment, they discover that each of the 10 payments should have been 10% higher than originally scheduled. They agree that Bob will make increased payments of X in the 6th through 10th year to adjust for the error. Find X.

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For the 5 years Bob paid 6005 3000 10 i... View the full answer