You have two investment opportunities. One will have an 7.0% rate of return on an investment of $540; the other will have a 10.0% rate of return on principal of $690. You would like to take advantage of the higher-yielding investment but have only $540 available. Required: What is the maximum rate of interest that you would pay to borrow the $150 needed to take advantage of the higher yield? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

You have two investment opportunities. One will have an 7.0% rate of return on an investment of $540; the other will have a 10.0 % rate of return on principal of $690. You would like to take advantage of the higher-yielding investment but have only $540 available. Required: What is the maximum rate of interest that you would pay to borrow the $150 needed to take advantage of the higher yield? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Maximum rate of interest