9. Daniel is due to retire in 23 years, at which time he will start collecting pension benefits. His employer is scheduled to begin funding Daniel's pension benefits with 23 end-of-year annual payments starting at the end of year 1. The first payment is 2,200 and will increase by 3% each year. These contributions earn an annual effective interest rate of 7%. Alternatively, Daniel's employer can fund his pension benefit with end-of-year annual payments starting at the end of year 7. The initial payment is 1,100 and will increase by $X each year. The alternative plan earns an annual effective interest rate of 8%. Calculate X such that two pension funding plans have exactly the same accumulated value at the end of 23 years. 9. Daniel is due to retire in 23 years, at which time he will start collecting pension benefits. His employer is scheduled to begin funding Daniel's pension benefits with 23 end-of-year annual payments starting at the end of year 1. The first payment is 2,200 and will increase by 3% each year. These contributions earn an annual effective interest rate of 7%. Alternatively, Daniel's employer can fund his pension benefit with end-of-year annual payments starting at the end of year 7. The initial payment is 1,100 and will increase by $X each year. The alternative plan earns an annual effective interest rate of 8%. Calculate X such that two pension funding plans have exactly the same accumulated value at the end of 23 years