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You are considering an investment that has a nominal annual interest rate of 14.78 percent, compounded semiannually. Therefore, the effective annual rate, or EAR (annual percentage yield) is _____.

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You are considering an investment that has a nominal annual interest rate of 14.78 percent, compounded semiannually. Therefore, the effective annual rate, or EAR (annual percentage yield) is _____.
Round the answer to two decimal places in percentage form. (Write the percentage sign in the “units” box)

 
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