Question FM 11/17/2011 10:15

David receives payments of $\$X$ at end of the end of each year, starting 6 years from today, forever. Karen receives payments of $\$10$
at the beginning of each year, including today, forever.
The present values of their payments are the same at an annual effective interest rate of $\%10$. Calculate X.

Ans: $\$17.7$