Question: Previous Problem Problem List Next Problem (1 point) John owes $3000 in 6 months and another $5000 in 11 months. His payment plan consists of

Previous Problem Problem List Next Problem (1 point) John owes $3000 in 6 months and another $5000 in 11 months. His payment plan consists of paying $X in 5 months and $4000 in 12 months. These two payments will fully pay off the loan. If the focal date is in 11 months, what is X if the simple interest rate is r = 12%? Answer: $

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