Question: DO NOT USE EXCEL. APPLY FINANCIAL MATH CONCEPT (BOND): The net present values of the following two projects are equal at an annual effective interest

DO NOT USE EXCEL. APPLY FINANCIAL MATH CONCEPT (BOND):

The net present values of the following two projects are equal at an annual effective interest rate of 8%. Project A requires an investment of $5000 today and pays 2000 in one year and 5000 in five years. Project B requires an investment of X today and pays 3000 in two years and 7000 in eight years. Calculate X.

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