They are to split the annuity equally how many payments, Financial Management

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They are to split the annuity equally how many payments

Bob and Carol and Ted and Alice are to share a 100 payment annuity-immediate with monthly payments of $500. Bob will receive his payments, then Carol, then Ted and finally AlliceThe annuity is valued using a nominal annual interest rate of 12% compounded monthly. They are to split the annuity equally. How many payments does Ted receive?

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Financial Management: They are to split the annuity equally how many payments

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