A great white shark is attacking the people of a New Jersey Beach Town. The local fisherman has offered to kill the fish for an immediate payment of $$6,000$ and an ordinary monthly annuity of $$500$ for five years plus a $6-$year deferred annuity that begins in year $7.$ Determine the total present value to pay the fisherman if the relevant interest rate is $9\mathrm{.}27\%.$

Explain how the politicians in this NJ beach town would have determined the relevant interest rate