Problem $4-22$ Simple Interest versus Compound Interest

First Simple Bank pays $9\mathrm{.}6$ percent simple interest on its investment accounts. If First

Complex Bank pays interest on its accounts compounded annually, what rate should the

bank set if it wants to match First Simple Bank over an investment horizon of $10$ years?

$($Do not round intermediate calculations and enter your answer as a percent rounded

to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$