Question $4$

point

Consider the information presented in the table below and determine the nominal interest rate needed to obtain the desired present value. Enter your answer as a percentage. Round your answer to two decimal places.

$\backslash$table$[[\backslash$table$[[$Present$],[$Value$]],\backslash$table$[[$Future$],[$Value$]],\backslash$table$[[$Compounding$],[$Frequency$]],$Term,$\backslash$table$[[$Annuity$],[$Payments$]],\backslash$table$[[$Payment$],[$Timing$]]],[$$$423,500,$$$0,$semi$-$annually,$\backslash$table$[[11],[$years$]],\backslash$table$[[$$$16,750$