In return for a payment of 25,000 at t=2, an investor receives x at time 1 and at time 7. Interest rate is calculated at a simple interest rate of 10%. What is the value of x?
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SI=(P x R x T)/100
SI when time 1 =25000 x 1 x 10/100
SI when time 7 = 25000 x 7 x 10/100
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