5. You are given the following information about a loan of L that is to be repaid with a series of 20 annual payments: The first payment of 100 is due five years from now. The next nine payments are each 5% smaller than the preceding payment. From the 11th to the 20th payment, each payment will be 10% larger than the preceding payment. The loan has an annual effective interest rate of 10%. Calculate L. (a) 755 (b) 516 (c) 469 (d) 389 (e) 243