Please Explain how I can come to the same conclusion as shown in this image. Please be as detailed as possible with the formulas your are going to use.

The students Meyer and Schulz found a company after their studies and expect the following cash flows in the first 5 years of this entrepreneurial activity: The total start-up expenses in to amount to 100,000 . The students apply an interest rate of 8% in the first two years and an interest rate of 10% in the three subsequent years. time should then be paid out in the form of a pension. The pension is to be paid in arrears for 15 years. Task: Determine the amount of the annual annuity payment, even if you work with a discount rate of 10% in the years of the annuity term. Choose one or more answers: a. The annual pension payment is around 13,807.32. b. The annual pension payment is around 6.803.50. c. The annual pension payment is around 11,207.14. i.e. The annual pension payment is around 10,507.24. The students Meyer and Schulz found a company after their studies and expect the following cash flows in the first 5 years of this entrepreneurial activity: The total start-up expenses in to amount to 100,000 . The students apply an interest rate of 8% in the first two years and an interest rate of 10% in the three subsequent years. time should then be paid out in the form of a pension. The pension is to be paid in arrears for 15 years. Task: Determine the amount of the annual annuity payment, even if you work with a discount rate of 10% in the years of the annuity term. Choose one or more answers: a. The annual pension payment is around 13,807.32. b. The annual pension payment is around 6.803.50. c. The annual pension payment is around 11,207.14. i.e. The annual pension payment is around 10,507.24