(Related to Checkpoint 5.6) (Solving for i) Kink Von Houten, who has boen mamed for 23 years, would like bo buy his wile an expensive damend mg with a plathum seling on their 30-year. wedding anriverary. Assume that the cost of the ring will be $11,500 in 7 years. Kirk currenly has $4,466 to invest. What annual fate of retum must Rirk earn on has investment to acournutale enough money to pay for the ring? The annual mate of refurn Kik must eam on his investment to accumulase enough money to pay for the ring is 6. (Round to two decimal places.)