Since many employees get paid once every two weeks, it is typical that the timeframe for a payday loan is two weeks. Since there are $52$ weeks in a year, there are $26$ pay periods in a year. Next Check Access is a payday loan company in town which will loan $$100$ to anyone who can prove they have a job $($no credit check required$),$ and the fee for borrowing is $$28.$ That is$,$ at the end of two weeks, the customer must pay a total of $$128$ to Next Check Access. Pikachu goes to borrow $$100$ for one pay period. The annual interest rate for borrowing is r$=$ and this annual rate written as a percentage is percent.