Starting on his 25th birthday and continuing through his 60th, Fred deposits 7500 each year on his birthday into a retirement fund earning an annual effective rate of 5%. Immediately after the last deposit, the accumulated value of the fund is transferred to a fund earning an annual effective rate of j. Five years later, a twenty-five year old annuity due paying 5,800 each year is purchased with the funds. The purchase price of the annuity was determined using an annual effective rate of 4%. Find j. (please show all work and timeline)