You want to buy equipment that is available from $2$ companies. The price of the equipment is the same for both companies. Pink

Industrial would let you make quarterly payments of $$8,400$ for $8$ years at an interest rate of $3\mathrm{.}11$ percent per quarter. Your first payment

to Pink Industrial would be in $3$ months. Forest Industrial would let you make monthly payments of $$4,422$ for $5$ years at an interest

rate of $x$ percent per month. Your first payment to Forest Industrial would be today. What is $x?$

percent