Bob deposits $1,500 at the beginning of each quarter for sixteen years in a fund earning a nominal rate of interest of 6% convertible monthly.

Bob deposits $1,500 at the beginning of each quarter for sixteen years in a fund earning a nominal rate of interest of 6% convertible monthly. The interest from this fund is paid out monthly and can only be reinvested at an effective annual rate of 5.2%. Find Bob's yield rate for the twenty-year period.