Payday loans are very short$-$term loans that charge very high interest rates. You can borrow $$200$ today and repay $$260$ in two weeks. What is the compounded annual rate implied by this $30$ percent rate charged for only two weeks? $($Hint: Compound the $2-$week return $26$ times for the annual return.$)($Do not round intermediate calculations and round your final answer to the nearest whole percent.$)$

Answer is complete but not entirely correct.

Compounded annual rate

$26\%$