Your folks just called and would like some advice from you. An insurance agent just called them and offered from the opportunity to purchase an annuity for $20, 347 10 that will pay the m $3,600 per year. They don't have the slightest idea what return they would be making on their investment of $20,347.10 what rate of return would they be earning? The annual rate of return would they be earning on their investments is % (Round to two decimal places.)