Tyler invested $100,000 over 15 years at a nominal rate of 4% compounded semiannually.

You received your interest in cash every 6 months and then received your principal at the end of 15 years.

Tyler reinvested his interest payments at a nominal rate of 3% compounded quarterly.

At the end of 15 years, what is Tyler's nominal annual rate of return compounded semiannually on his $100,000 investment over the 15-year period?