Tom has taken out a loan of $5,284 7 years ago. The loan accrues interest monthly. Since then, Tom has made no payment toward the loan and let the interest compound.

Today, Tom received a huge bonus of $22,162 for his exemplary work at his job and he decided to use this money to payoff his loan.

If coincidentally, Tom's bonus is of the exact same amount as his loan balance as of today, what is the monthly interest on his loan?

Round to the nearest 0.01%. Enter your answer in percentage. For example, if your answer is 12.34%, enter 12.34.