he snow tires that you are planning to buy next October 1 at the regular price of $107.50 each are advertised at $89.95 in a spring clearance special that will end on the preceding March 25. What annual rate of simple interest will you earn if you invest in the new snow tires at the sale price on March 25 instead of waiting until October 1 to buy them at the regular price? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Annual rate %