Problem $5-8$ Calculating Interest Rates $[$LO$3]$

Assume that in January $2020,$ the average house price in a particular area was $$269,500.$ In January $1999,$ the average price was $$190,000.$ What was the annual increase in the price of the average house sold? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Annual increase in selling price

$\%$