Problem #5: A loan of $16,000 is paid off in 36 payments at the end of each month in the following way: Payments of $400 are made at the end of the month for the first 12 months. Payments of $400 + x are made at the end of the month for the second 12 months. Payments of $400 + 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. Just Save Submit Problem #5 for Grading Attempt #2 Attempt #3 Problem #5 Attempt #1 Your Answer: Your Mark