the answer is 40.82, can you show me how to get there.

payments. For the first 11 years, payments are 1, 2, 3, ..., 11. After year 11, payments remain constant at 11. At an annual effective interest rate of i, both annuities have a present value of X. Calculate X. 0. Two annuities have the same present value. The first annuity is a decreasing annual annuity. The first payment is $840, due one year from today. Subsequent annual payments decrease by $120 per year. The interest rate is 4% compounded annually. The second annuity provides payments of $K per month for seven years. The first payment is due one month from today. The interest rate is 4% compounded annually. What is K?I 1. Seth borrows X for four years at an annual effective interest rate of 8%, to be repaid with equal payments at the end of each year. The outstanding loan balance at the end of the second year is 1076.82 and at the end of the third year is 559.12. Calculate the principal repaid in the first payment. 12. Ming borrows X for 10 years at an annual effective interest rate of 8%. If he pays the principal and accumulated interest in one lump sum at the end of 10 years, he would pay 468.05 more in interest than if he repaid the loan with 10 level payments