$($Solving for $r$ in an annuity$)$ 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 $$31,269\mathrm{.}84$ that will pay them $$3,000$ per year for $20$ years, but they don't have the slightest idea what return they will be making on their investment of $$31,269\mathrm{.}84.$ What rate of return will they be earning?

The annual rate of return they will be earning is $\%.($Round to two decimal places.$)$