1: $10,000 is used to purchase an appropriate size annuity that has level annual payments for 9 years. The price of the annuity is based on an effective annual rate of 8.8%. As each payment is received, it is put into a fund that earns an effective annual rate of 5.6%. (a) Determine the accumulated value of the investment at the end of 9 years. (b) If the $10,000 were put into a fund that was to produce the same final value after 9 years, what annual effective rate would that fund have to offer