please solve it clearly and explain it.

Liam bought a 20-year annuity-immediate with a $100 annual payment at 6% annual effective interest Charlotte bought a 20-year annuity whose first payment is $100 but each of subsequent payments is (100k)% larger than the preceding payment. The annual effective rate of interest is 10%. Determine k when the two annuities have the same present value. Round the answer to the nearest thousandth