please show the steps for answer 55.53%

Your cousin is due a tax refund of S780 in 5 weeks. His tax preparer has an arrangement with a bank to get him the $780 now. The bank charges an administrative fee of $37 plus interest at 6.05% 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 5/52, 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 fort years is given by which formula? O A = (1 +PV) OB TPV + It c. | PVit 0.1 PV(1+rt) The actual interest rate will be 55.53% (Type an integer or decimal rounded to two decimal places as needed)