Question: Hi please help me with the problem below, make sure write down detailed steps, thank you! Question 4 Lauren is repaying a loan of 100,000

Hi please help me with the problem below, make sure write down detailed steps, thank you!

Hi please help me with the problem below, make sure write down

Question 4 Lauren is repaying a loan of 100,000 using the sinking fund mcthod. At the end of cach ycar, she pays 7000 into a sinking fund earning 8%. At the end of 5 years, Lauren pays off the loan using the sinking fund plus an additional payment of X. Calculate X. Hint: 58,933.79

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