oblem \#5: A loan of $53,000 is paid off in 36 payments at the end...
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oblem \#5: A loan of $53,000 is paid off in 36 payments at the end of each month in the following way: Payments of $1325 are made at the end of the month for the first 12 months. Payments of $1325+x are made at the end of the month for the second 12 months. Payments of $1325+2x are made at the end of the month for the last 12 months. What should x be if the nominal monthly rate is 8.6% ? Problem \#5: Answer correct to 2 decimals
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