Problem $01\mathrm{.}040-$ Simple and compound interest

To make CDs look more attractive as an investment than they really are, some banks advertise that their rates are higher than their competitors$$ rates; however, the fine print says that the rate is based on simple interest. If you were to deposit $$24,000$ at $15\mathrm{.}00\%$ per year simple interest in a CD$,$ what compound interest rate would yield the same amount of money in $3$ years?$($Round the final answer to three decimal places.$)$

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The compound interest rate that would yield the same amount of money in $3$ years is $\%$ per year.