Redwood Credit Corporation wants to earn an effective annual return on its consumer loans of $17\mathrm{.}9$ 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?

Note: 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