need help with second part of question: effective annual rate for loan from parents is: ___%?

Score: 0.67 of 1 pt 3 of 5 (3 complete) HW Score: 53.33%, 2.67 of 5 WP 5-4 (similar to) Question Help You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 17% APR, compounded monthly, or borrow the money from your parents, who want an interest payment of 7% every six months. Which is the lower rate? (Note: Be careful not to round any intermediate stops less than six decimal places.) The effective annual rate for your credit card is 18.38 %. (Round to two decimal places.) The effective annual rate for the loan from your parents is % (Round to two decimal places.)