Trent receives a check for $20,000 from his parents for his 20th birthday. He decides to deposit this money into an account earning a 9% interest rate compounded monthly, forever.

8 years later, he decides to take $40,000 out of this account. He decides to use this money to make equal payments every year into a separate account earning annual interest until he turns 50.

Trent wants to throw an elaborate 50th birthday party and estimates that it will cost $150,000. If he uses solely the combined sums in both accounts at the time he turns 50, what annually compounded interest rate must he earn in the second account to be able to fund his birthday bash?