Joe and Robert both want to retire in 10 years. Today, Joe has savings of $310,000 and Robert has savings of $675,000. For the next 10 years, Joe will save $5,000 per year; Robert will save only $1,200 per year. Joe's plan is to earn a higher rate of return so he will have as much as Robert when they retire 10 years from now. If Robert will earn 5% per year on his savings, what rate of return will Joe need to catch up with Robert? Enter your answer in decimals (not percent) and round to 4 decimal places, for example 0.1234