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(3.10) Yield rate examples involving annuities (1) An investor invests $58,000 and receives an annuity...

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(3.10) Yield rate examples involving annuities (1) An investor invests $58,000 and receives an annuity of $7,000 at the end of h year for twelve years and an additional payment of $15,000 at the end of the thirteenth year. Each time he gets a $7,000 payment, he immediately deposits $4,000 in a savings account that earns 9%. Find the annual yield re- ceived by the investor over the thirteen years. Do BY HAND NO EXCELL

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