lem \#5: A loan of $31,000 is paid off in 36 payments at the end of each month in the following way: Payments of $775 are made at the end of the month for the first 12 months. Payments of $775+x are made at the end of the month for the second 12 months. Payments of $775+2x are made at the end of the month for the last 12 months. What should x be if the nominal monthly rate is 12.4% ? Problem =5 : Answer correct to 2 decimals