Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for $15,168.27 that will pay them $2,000 per year for 25 years. They don't have the slightest idea what return they would be making on their investment of $15,168.27. What rate of return would they be earning?

The annual rate of return your folks would be earning on their investment is___ %