The treasurer of Brandon Blue Sox is seeking a $$33,000$ loan for $180$ days from the Brandon Credit Union. The stated interest rate is $15$ percent and there is a $20$ percent compensating balance requirement. The treasurer always keeps a minimum of $$2,800$ in the firm$$s chequing account. These funds could count toward meeting any compensating balance requirements.

What is the annual rate of interest on this loan?

answer $38\mathrm{.}02$ is wrong, please answer exact answer