1. Money is deposited in an account. For the first 4 years the accounts earns a nominal rate of 8% converted monthly. For the next 6 years the balance accumulates at a force of interest of 6%. For the 10 year period, what is the equivalent nominal discount rate, convertible quarterly?

2. Alex bought a 10-year annuity-immediate with annual payments of 10,000 under an annual rate of 8%. Six years into the future, right after receiving the 6th payment from the annuity, the market interest rate fell down to 4%, so she then decided to immediately sell all of her future earnings at the new market interest rate. Find her annual yield rate.