Question: Question: A loan is to be amortized by n level annual payments of X where n > 5. You are given (1) The amount of

Question:

A loan is to be amortized by n level annual payments of X where n > 5. You are given (1) The amount of interest in the first payment is 604.00 (2) The amount of interest in the third payment is 593.75 (3) The amount of interest in the fifth payment is 582.45 Calculate X.

Please proper explain and do not copy from Chegg. Otherwise i have to report the answer.

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