With annual compounding, what nominal rate would the bank quote for this loan

To start a new business, Su Mei intends to borrow $25,000 from a local
bank. If the bank asks her to repay the loan in five equal annual instalments
of $6,935.24, determine the banks effective annual interest rate on the loan
transaction. With annual compounding, what nominal rate would the bank quote
for this loan?
Topic: Determining Rates of Return and Effective Interest Rates
Level of difficulty: Medium