7. A 30-year loan of L is going to be repaid with annual payments made at the end of the year. The bank charges an annual effective rate of interest of 10% on the loan One option is to use the Amortization Method and make level payments of size 2000 at the end of each year. The second option is to use the Sinking Fund Method where yearly payments are made at the end of the year starting with a payment of size X and increasing the size of each successive payment into the sinking fund by 5% each year. The payments in the sinking fund gain an annual effective interest rate of 8% Find X. Round your answer to the nearest whole number