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6. A 48 month annuity immediate has payments of X in year one, 2X in year two, 3X in year three and 4X in year

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6. A 48 month annuity immediate has payments of X in year one, 2X in year two, 3X in year three and 4X in year four. Jeff buys this annuity for 50,000, and the price he pays is based on a nominal rate of 6% convertible monthly. Immediately after receiving the 12th payment, Jeff sells the remaining payments to Scott. The price Scott pays is based on a nominal rate of 3.6% convertible monthly. Find the nominal yield rate convertible monthly for Jeff. 6. A 48 month annuity immediate has payments of X in year one, 2X in year two, 3X in year three and 4X in year four. Jeff buys this annuity for 50,000, and the price he pays is based on a nominal rate of 6% convertible monthly. Immediately after receiving the 12th payment, Jeff sells the remaining payments to Scott. The price Scott pays is based on a nominal rate of 3.6% convertible monthly. Find the nominal yield rate convertible monthly for Jeff

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