solve both question plz

A perpetuity provides for continuous payments. The annual rate of payment at time t is {1(1.023)t12for0t12,fort12. Using an annual effective interest rate of 7.1%, the present value at time t=0 of this perpetuity is x. Calculatex. 16.0216.8317.3517.7517.90 Mike buys a perpetuity-immediate with varying annual payments. During the first 10 years, the payment is constant and equal to 5. Beginning in year 11 , the payments start to increase. For year 11 and all future years, the payment in that year is K% larger than the payment in the year immediately preceding that year, where K