One investor wants to buy an apartment for 370,000 CAD. He then wants to rent his property for 1700 CAD a month for a year and after the year sell it for 475,000 CAD. The bank guaranteed him a return rate of 3% per annum through a mutual fund investment that can be calculated monthly. This means the investor can invest the rent money in the bank. The investor wants to know what the return rate of this investment is.