Josh Black visited his banker to determine the amount of interest he would earn on $11,500 deposited for 5 years. The banker indicated that the total interest earned would be $1,725.00 over 5 years on a simple basis. Josh determined that the simple interest rate must be ____% (2 decimal places) but the banker advised that he could earn an additional $106.55 if the interest rate was ______ (single word) annually.