Lin Shan is about to retire and is exploring the possibility of investing a lump sum in an annuity so that she gets 50% of her last drawn salary at the end of every month for 15 years. She estimates...

Lin Shan is about to retire and is exploring the possibility of investing a lump sum in an annuity so that she gets 50% of her last drawn salary at the end of every month for 15 years. She estimates her last-drawn salary to be ¥60,000. The quotation she obtained from Ping Tan insurance requires her to invest a lump sum of ¥1 million. Calculate the return that Lin Shan is earning on her annuity.