Show me the steps to solve Question $5(1$ point$)$

What is the annual effective interest rate equivalent for a nominal rate of $14\mathrm{.}6\%,$ compounded semi$-$annually?

When asked for a percentage answer, always round to two decimal place accuracy. i$.$e$.$ for $0\mathrm{.}1234$ you would input $12\mathrm{.}34,$ without the percent sign.

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