John invests a total of 19,200. He a purchases an annuity with payments of 1600 at the beginning of each year for 12 years at an effective annual interest rate of 10%. As annuity payments are received, they are reinvested at an effective annual interest rate of 6%. The balance of the 19,200 is invested in a 12-year certificate of deposit with a nominal annual interest rate of 7%, compounded quarterly. Calculate the annual effective yield rate on the entire 19,200 investment over the 12-year period. [5.a-c #16] 8.28% 8.06% O 7.61% 7.84% 07.39%