Your cousin is due a tax refund of $760 in 3 weeks. His tax preparer has an arrangement with a bank to get him the $760 now. The bank charges an administrative fee of $28 plus interest at 6.87%. What is the actual annual simple interest rate for this loan? Consider any fees as part of the total interest. (Hint: The time period of this loan is not 3/52, because a 365-day year is 52 weeks and 1 day. So use days in your computations.) The simple interest I on PV dollars at a rate of interest r per year for tyears is given by which formula? O A. I = PV(1 + rt) O B. l = rt(1 + PV) OC. I = PVrt OD. I = PV + rt The actual interest rate will be%. (Type an integer or decimal rounded to two decimal places as needed.)