QUESTION 4 Francois purchases a 10-year annuity-immediate with annual payments of 10% Jacques purchases an 8-year increasing annuity-immediate, which also makes annual payments. The payment at the end of year 1 is equal to 200. At the end of year 2, and at the end of each year through year eight, each subsequent payment is increased over what was paid in the previous year by an amount equal to X. At an annual effective interest rate of 3%, both annuities have the same present value Calculatex A) 15.52 B) 19.83 22.71 D) 28.35 E) 31.05 Click Save and Submit to save and submit Chek Son All Amers to sore alla lap