By law, financial institutions are required to maintain a specific amount of cash in reserve each day. When they are unable to meet these requirements, they borrow money from other institutions or the federal government on a very short-term basis. The interest rate used for these transactions is called the "overnight" rate because the money is paid back the next day.

Currently, the overnight rate is 0.70% (i.e for every $100 borrowed, the company must repay $100.70 on the next day). What is this value expressed as an effective annual rate?

Express your answer as a whole number without the % sign. For example, if you calculate the answer to be 25.5%, please enter "25.5".