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The lender of a loan of 100,000 receives annual interest payments at 12% per

year for 10 years, and, in addition, will receive a lump-sum repayment of the

principal along with the interest payment. The borrower will pay the annual

interest to the lender and accumulate the 100,000 by annual deposits to an 8%

sinking fund. The borrower wishes to schedule the deposits so that his total annual

outlay is X for each of the first 5 years, and 2X for each of the final 5 years.

Find X. Clearly distinguish the amount that goes is deposited to the sinking

fund and the interest due, for each of the two annual outlays.