Ken Francis is offered the possibility of investing $10,062 today; in return, he would receive $18,500 after 9 years. What is the annual rate of interest for this investment?

Ken Francis is offered the possibility of investing $10,062 today. in return, he would receive $18,500 after 9 years. What is the annua rate of interest for this investment? (PV of S1. EV of S1. PVA of \$1. and EVA of \$1) (Use oppropriote foctor(s) from the tables provided. Round your "PV of a single amount" to 4 decimal places ond percentage onswer to the nearest whole number.)