Francois purchases a 10-year annuity-immediate with annual payments of 10X. Jacques purchases a 10-year decreasing annuity-immediate which also makes annual payments. The payment at the end of year 1 is equal to 50. At the end of year 2, and at the end of each year through year 10, each subsequent payment is reduced over what was paid in the previous year by an amount equal to X. At an annual effective interest rate of 7.072%, both annuities have the same present value. Calculate X, where X < 5.

When paul o’neill joined alcoa as ceo, he set a , that there would be zero workplace accidents. a lot of people in the organization thought this was impossible given how dangerous some aluminum-manufacturing jobs are, but alcoa’s safety record improved tremendously. as the board of governors of the american red cross considers planning, one option is to make strategic plans and then direct managers to align tactical and operational plans accordingly. another option is to have planning specialists managers across the organization make their own plans. why might this organization’s executives opt for the latter approach? check all that apply. (a) the environment is a dynamic one, and department and frontline managers can come up with more responsive plans than can central leadership. (b)resources will be better coordinated across the organization in support of the overall strategy.(c) senior leadership will have more control over the organization’s direction. (d)when managers come up with their own plans, they are likely to be more committed to following through on them.