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 10th

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 using formula