To solve this problem, we can break it down into two parts:

1. The loan is repaid with (X) regular annual payments of $22,820.
2. A special payment of $49,700 is made in the 6th year.
3. The interest rate is 9.76%, compounded annually.
4. The first payment is made today.

Since the first payment is made today, this means the loan is repaid using the concept of an annuity due (where payments are made at the beginning of the period). The total present value of all the payments must be equal to the loan amount of $240,203.

We'll calculate the present value of:

• The regular annual payments of $22,820 over (X) years.
• The special lump-sum payment of $49,700 in 6 years.

The present value of the regular payments can be calculated using the annuity due formula. For the lump-sum special payment, we will discount it back to the present.

Let me calculate that for you.It seems like I can’t do more advanced data analysis right now. Please try again later.

Feel free to reach out again for assistance or ask any clarifications! If you'd like, I can walk you through the process for solving the problem manually.

Here are 5 related questions you might want to explore:

1. How do you calculate the present value of an