Suppose that you borrow $10,000 today from Falcon Savings & Loan (S&L) and promise to pay this loan back in 6 years with a total payment (principal plus interest) of $14,500. What is the effective annual interest rate that the S&L is charging? Assume monthly compounding. Do not round at intermediate steps in your calculation. Express your answer in percent. Round to two decimal places. Do not type the % symbol.