Problem $5-11$ Spreadsheet Problem: Effective Annual Rate $($LG$5-7)$

A loan is offered with bi$-$weekly payments $(26$ payments per year$)$ and a $15\mathrm{.}25$ percent APR. What's the loan's effective annual rate

$(EAR)?$

Note: Round your final answer to $2$ decimal places.

Answer is complete but not entirely correct.