Jill pays $2000 at time 0 in order to receive $1100 at time 1 and $1100 at time 2. Find the annual effective rate of interest that she earns on her money. Round your answer to 3 decimal places. 46.774 X % David would like to make a single payment of $2200 at the end of year 7 so that it will be equivalent to payments of $400, $1100, and $700 made at the ends of years 1, 10, and X years, respectively. Assuming an effective rate of interest of 6% per annum and the method of equated time, solve for X. Round your answer to 2 decimal places. year