Assume Pediatric Partners borrows $$85,000$ from a bank at an annual interest rate of $11$ percent. If the bank requires Pediatric Partners to maintain a compensating balance equal to $15$ percent of the face amount of the loan, what is the effective interest rate on the loan?

Group of answer choices

$11\mathrm{.}5$ percent

$13\mathrm{.}8$ percent

$12\mathrm{.}9$ percent

$11\mathrm{.}0$ percent