Question: Jane receives a 1 0 - year increasing annuity - immediate paying 1 0 0 the first year and increasing by 1 0 0 each

Jane receives a 10-year increasing annuity-immediate paying 100 the first year and increasing by100 each year thereafter.Mary receives a 10-year decreasing annuity-immediate paying X the first year and decreasing byX/10 each year thereafter.At an effective annual interest rate of 5%, both annuities have the same present value. Calculate X.

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