ts First Simple Bank pays 9.5 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. What rate should First Complex Bank set if it wants to match First Simple Bank over an investment horizon of 15 years? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. Answer is complete but not entirely correct.

First Simple Bank pays 95 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. What rate should First Complex Bank set if it wants to match First Simple Bank over an investment horizon of 15 years? Note: Do not round intermediote calculations ond enter your answer os a percent rounded to 2 decimal ploces, e.g., 3216