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Problem $21-14$ Mortgage Prepayments $($LO$2,$ CFA$2)$

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A homeowner took out a $30-$year fixed$-$rate mortgage of $$160,000.$ The mortgage was taken out $9$ years ago at a rate of $8\mathrm{.}25$ percent. If the homeowner refinances, the charges will be $$2,700.$ What is the highest interest rate at which it would be beneficial to refinance the mortgage?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places.

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