Find the interest rate needed for the sinking fund to reach the required amount Assume that the compounding period is the same as the payment period. $23.767 to be accumulated in 5 years, quarterly...

Extracted text: Find the interest rate needed for the sinking fund to reach the required amount Assume that the compounding period is the same as the payment period. $23.767 to be accumulated in 5 years, quarterly payments of $1000. The interest rate needed is approximately %. (Type an integer or decimal rounded to two decimal places as needed.)