Quantum pizza took out a loan from the bank today for 23400, Ask an Expert

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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?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92257918

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