(1 point) A19-year loan of $7600is to be repaid with payment at the end of each year. It can be repaid under the following two options:

(i) Equal annual payments at an annual effective rate of5.3%.

(ii) Installments of $400each year plus interest on the unpaid balance at an annual effective rate ofi.

The sum of the payments under Option (i) equals the sum of the payments under Option (ii). Determinei.

i=_________%