If Ruth Lewis invests $4,609.40 now and she will receive $18,300 at the end of 16 years, what annual rate of interest will Ruth earn on her investment? (Hint: Use Table 3.) (Round answer to 0 decimal places, e.g. 25%.) Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

Annual rate of interest