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2. Jane receives a 10-year increasing annuity-immediate paying 100 the first year and increasing by 100 each year thereafter. Mary receives a 10-year decreasing annuity-immediate
2. Jane receives a 10-year increasing annuity-immediate paying 100 the first year and increasing by 100 each year thereafter. Mary receives a 10-year decreasing annuity-immediate paying X the first year and decreasing by X/10 each year thereafter. At an effective annual interest rate of 5%, both annuities have the same present value. Calculate X. A. 860 B. 864 C. 868 D. 872 E. 876
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