Julie agrees to invest in a project that will pay her 10,000 at the end of 5 years and 12,000 at the end of 7 years and 15,000 at the end of 9 years.
She will make a payment of X today and she will also make another payment of X three years from now.
The present value of the payments and payouts are equal if the annual effective rate is 8%.
Calculate X.