DO ALL PARTS FOR THUMBS UP. 4

What is the effective annual rate (EAR) of a 11.1 percent annual stated rate that is compounded semiannually? ENTER YOUR ANSWER AS A PERCENTAGE WITH TWO DECIMAL PLACES. DO NOT INCLUDE A PERCENTAGE SIGN (%). EXAMPLE (8.25). You deposit $2,988 per year for 14 years, beginning in one year, into an account that pays 10% percent annual interest. How much will you have in your account in 14 years? DO NOT USE DOLLAR SIGNS OR COMMAS IN YOUR ANSWER. ROUND ANSWER TO THE NEAREST DOLLAR