$($c$)$

Wildhorse Enterprises would like to have $$1,030,000$ saved up in $8$ years to fund equipment and building upgrades. If Wildhorse

invests $$177,000$ today and commits to depositing $$50,900$ at the end of each of the next $8$ years, what annual interest

the fund earn to reach $$1,030,000?($Do not round intermediate calculations. Round final answer to $2$ decimal places, e$.$g$.15\mathrm{.}25\%.)$

Annual interest rate

$\%$

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