Serena invests a total of $10,000. She uses part of the $10,000 to purchase an annuity with payments of $1,000 at the beginning of each year for 10 years. The purchase price of the annuity is its present value calculated at an annual effective interest rate of 8%. Serena invests the balance of her $10,000 in a 10-year certificate of deposit that earns nominal 9% per year compounded quarterly. As Serena receives payments from the annuity, she reinvests them at an annual effect interest rate of 7%. Calculate the annual effective yield rate on the entire $10,000 investment over the 10-year period. (Ans 7.95%)