Problem $6-15$ Calculating APR $[$LO$4]$

Evergreen Credit Corporation wants to earn an effective annual return on its consumer loans of $15\mathrm{.}5$ percent per year. The bank uses daily compounding on its loans. What interest rate is the bank required by law to report to potential borrowers? $($Use $365$ days a year. Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Interest rate: $\_\_\_\_\_\_\_\_$