help

(Solving for in an annuily) Your folks just called and would like some advice from you. An insurance agent just called them and offored them the opportunity to purchase an annuity for $22,547.57 that will pay them $2,500 per year for 20 years, but they don't have the slightost idea what retum they will be making on their investment of $22,547,57. What rate of return will they be earning? The annual rate of return they will be earning is \%. (Round to two decimal places.)