Charley had a medical emergency and went to a payday loan business to get a loan of $1039. Charley paid the loan off three months (one quarter) later with a payment of $1469. What was the effective annual interest rate for the loan? Enter your answer as the percentage rate (without the percentage sign). For example, if you calculate .1234 (12.34%), enter it as 12.34 Round your answer to two decimal places. Do not use a percentage ("%") sign