C$.$D$.$ Rom has just given an insurance company $$35,500.$ In return, he will receive an annuity of $$4,400$ for $20$ years. At what rate of return must the insurance company invest this $$35,500$ in order to make the annual payments? Use Appendix D for an approximate answer, but calculate your final answer using the financial calculator method. Do not round intermediate calculations. Round your final answer to $2$ decimal places.