When an investment grows p% over n years, the effective annual percentage rate, r, and p are related by the formula p = 100 ( ( 1 + r 100 ) n − 1 ) . Calculate the effective annual percentage rate of an investment that grows 30.25% over 9 years. Round your answer to two decimal places. Note that p and r are percents. So, for example, if an investment grows 8.25%, p = 8.25 .