Alice owned an annuity which had level annual payments for twelve consecutive years, the first of these being in exactly twelve years. She sold it, and the selling price of $21.092,04 was based on a yield rate for the investor of 7,8%. What is the amount of the level payments?
Q: how long in years and months will she receive the payments
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![1. Alice owned an annuity which had level annual
payments for twelve consecutive years, the first
of these being in exactly twelve years. She sold
it, and the selling price of $21.092,04 was based
on a yield rate for the investor of 7,8%. What is
the amount of the level payments?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F09adf8d1-a41f-434e-baed-97f5ae2de668%2F34605b15-6d14-430e-b882-30385b5f2e58%2Fgaca81l_processed.png&w=3840&q=75)
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