On a loan of $1400, interest at 9% effective must be paid at the end of each year. The borrower also deposits $X at the beginning of each year into a sinking fund earning 4.7% effective. At the end of 10 years the sinking fund is exactly sufficient to pay off the loan. Calculate X.   A. $ 1617.11 B. $ 1078.07 C. $ 1347.59 D. $ 1724.92 E. $ 1232.09

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