Problem $\backslash$#$3$: If$,$ in $12$ years, $\backslash (\backslash$$ $1000\backslash )$ increased to $\backslash (\backslash$$ $2700\backslash ),$ what is the effective monthly rate, as a percentage?

Problem $\backslash$#$3$:

Percentage, correct to $2$ decimals.

$($Do not include the $\text{'}\backslash \%\text{'}$ sign in your answer.$)$

Submit Problem $\backslash$#$3$ for Grading