The treasurer of Brandon Blue Sox is seeking a $34.000 loan for 180 days from the Brandon Credit Union. The stated werest rate : 12 percent and there is a 15 percent compensating balance requirement. The treasurer always keeps a minimum of $2,900 n the foms chequing account. These funds could count toward meeting any compensating balance requirements. What is the annual rate of interest on this loan? (Hint: If the interest rate is 12 percent per year and you're bottowing the money for en than a year, then the interest cost is a portion of 12 percent times $34000) (Us 365 days in a year. Do not round intermediate calculations, Round the final answer to 2 decimal places.) % Annual rate of interest