Juana deposited $200.00 into a savings account that compounded interest monthly. What nominal annual rate compounded monthly was earned on the investment if the balance was $534.60 in eight years?

Juana deposited $200.00 into a savings account that compounded interest monthly. What nominal annual rate compounded monthly was earned on the investment if the balance was $534.60 in eight years? The nominal annual rate of interest is % per annum compounded monthly (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)