QUESTION 18 Axis Credit wants to earn an effective annual return on its consumer loans of 14.42% per year. The financing company uses daily compounding on its loans. What interest rate is Axis required by law to report to potential borrowers? (Do not include the percent sign (%). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)