An investor will receive Shs 45,000, Shs 11,000, Shs 15,000 and Shs 20,000 at the end of years one, two, three and five from today respectively and leave a balance of Shs 9,000. If the rate of interest per annum during years two, three, four and five is 8%, 3%, -5%, and 9% per annum respectively, what is the rate of interest in year one that makes the present value of the cash flows half as much again as the first installment