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The bank in the SUB just offered a 1-year CD that promises an annual percentage rate (APR) of 17.0%. The compounding frequency is 2 times

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The bank in the SUB just offered a 1-year CD that promises an annual percentage rate (APR) of 17.0\%. The compounding frequency is 2 times a year. What is the equivalent, effective annual rate (EAR) on this 1-year CD? (Do NOT include the \% sign or any other text. Enter your answer as a percent and round your final answer to 2 decimal places, e.g. 110.10)

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