(Annuity interest rate)Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for

$15,723.34

that will pay them

$2,500

per year for

15

years. They don't have the slightest idea what return they would be making on their investment of

$15,723.34.

What rate of return would they be earning?

The annual rate of return your folks would be earning on their investment is

nothing%.

(Round to two decimal places.)