A corporation takes out a 20 year loan. The corporation will make level quarterly interest payments based on a nominal annual interest rate of 10%, converted quarterly. At the end of 20 years the corporation will repay the loan amount in a lump sum. During the period of the loan the corporation will make quarterly deposits to a sinking fund to accumulate sufficient funds to pay off the principal of the loan at the end of 20 years. The sinking fund earns interest at a nominal rate of x% converted monthly. If the total amount the corporation pays each quarter (loan interest + sinking fund deposit) equals the level payment for a 20 year loan of the same amount at an interest rate of 12% converted quarterly what is the value of x?