C$.$ D$.$ Rom has just given an insurance company $$35,000.$ In return, he will receive an annuity of $$3,700$ for $20$ years.

At what rate of return must the insurance company invest this $$35,000$ in order to make the annual payments? Use Appendix D for an approximate answer, but calculate your final answer using the financial calculator method.

Note: Do not round intermediate calculations. Round your final answer to $2$ decimal places.

Rate of Return$=$