Youlend a friend 14000 for which your friend will repay you

Youlend a friend $14,000 for which your friend will repay you $59,630 at the end of 7 years. What interest rate are you charging your friend?

Take Amount of interest = $59,630 - $14,000 = $45,630

and time = 7 years

if rate of interest = r%

then interest = (principle amount*time*rate)/100

45,630 = (14,000*7*r)/100

r = (45,630*100)/(14,000*7) = 46.56% annually