A bank account has an initial deposit of $16,000. After 7 years, the bank account has $21,000. Assuming that compounding interest is done annually and that no withdrawals are taken, find the annual interest rate on the investment. Points: 0 of 1 If interest is compounded annually, what is the approximate interest rate on the investment? % (Do not round until the final answer. Then round to the nearest hundredth.) Sav