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please 1. GlivCo took out a loan from the bank today for $173,000. The loan requires GlivCo to make a special payment of $64,000 to
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1. GlivCo took out a loan from the bank today for $173,000. The loan requires GlivCo to make a special payment of $64,000 to the bank in 11 years and also make regular, fixed payments of X to the bank each year forever. The interest rate on the loan is 3.53 percent per year and the first regular, fixed annual payment of X will be made to the bank in 1 year. What is X, the amount of the regular, fixed annual payment? Round your answer to the nearest cent (for example, 123.45 or 98.76) Step by Step Solution
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