Samson, a newly graduated student, just moved to a new city to start his first job. In order to assist him with moving expenses, he applied for a credit card. According to its terms, for any payment he makes within a month from the date of purchase, he will be charged no interest; however, if he does not pay off the full balance, interest will be charged daily on the remaining balance effective from the date of purchase. Every month he must make a minimum payment. On May 01, Samson spent $1750 of his $2000 credit card limit buying furniture for his new apartment. He didnt make any other purchases in the month of May.

1. On June 01, Samson made the minimum payment of $45 that was charged on her credit card. After her payment, interest took effect, and her new balance was $1758.77. What is the nominal interest rate of his credit card compounded daily? Round your answer to two decimal places.