Find the interest rate that an ordinary annuity pays, if the annuity pays $310 per month with its first payment in 4 years and one month from today and its last payment 9 years from today. The value of the annuity at the end of year 4 is $7,781.

Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.

Enter percentage answers as a positive percentage % rounded to 2 decimal places. For example 0.123456 should be enter as: 12.35 (##.##)