Vlad meets with Diogo, an insurance agent, to discuss purchasing an annuity. Based on the amount he would like to deposit, he receives a quote that will pay $500 per month until death, with a 5-year guarantee period. However, Vlad wants higher payments. Which of the following would lead to higher payments? 

1. waiting for a year to purchase the annuity 

ii. decreasing the amount of his initial deposit 

iii. changing his payments to annual 

iv. increasing the duration of the guarantee period

a. i and ii

b.  i and iii 

c. ii and iv 

d. iii and iv