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Amanda would like to accumulate $20,000 at the end of 6 years.

Amanda would like to accumulate $20,000 at the end of 6 years. She plans to do so by depositing $200 at the beginning of each month in the first year, $200+X at the beginning of each month in the second year, with the monthly deposit increasing by $X per year through year 6. Find X if the nominal rate of interest convertible monthly is 3.6%.

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