What is x-the amount of the regular-fixed annual payment

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Quantum Pizza took out a loan from the bank today for 23,400 dollars. The loan requires Quantum Pizza to make a special payment of 12,300 dollars to the bank in 3 years from today and also make regular, fixed payments of X to the bank each year forever. The interest rate on the loan is 9.22 percent per year and the first regular, fixed annual payment of X will be made to the bank in one year from today. What is X, the amount of the regular, fixed annual payment?

Reference no: EM131449178

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