3. (10 points). Cecil is selling a ten year annuity-immediate with annual payments of $100. The price of the annuity is priced to yield 7% per year. Daryl agrees to purchase the annuity from Cecil. As Daryl collects the annuity payments, he deposits them into an account that gains interest at an annual effective interest rate of 6%. a) What is Cecil's annual effective yield rate for his entire 10 year investment? Round your answer to the nearest .xx% b) What is Daryl's annual effective yield rate for his entire 10 year investment? Round your answer to the nearest .xx%