Juan took out a $20,000 loan for 146 days and was charged simple interest. The total interest he paid on the loan was $488. As a percentage, what was the annual interest rate of Juan's loan? Assume...

Juan took out a $20,000 loan for 146 days and was charged simple interest.
The total interest he paid on the loan was $488.


As a percentage, what was the annual interest rate of Juan's loan?
Assume that there are 365 days in a year, and do not round any intermediate computations.