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Question 3(1 point) You are considering an investment that has a nominal annual interest rate of 7.76 percent, compounded semiannually. Therefore, the effective annual rate,

Question 3(1 point)

You are considering an investment that has a nominal annual interest rate of 7.76 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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