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Where does 1.02 come from in the solution below? This does not seem to be correct. I thought the answer would be 4%. An investment

Where does 1.02 come from in the solution below? This does not seem to be correct. I thought the answer would be 4%.
An investment provides a 2% return semi-annually, its effective annual rate is o 2%. 4%. 0 4,02%. 0 4,04%. None of the options (1.02)2-1-4.04%

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Where does 1.02 come from in the solution below? This does not seem to be correct. I thought the answer would be 4%. An investment

Where does 1.02 come from in the solution below? This does not seem to be correct. I thought the answer would be 4%. An investment provides a 2% return semi-annually, its effective annual rate is o 2%. 4%. 0 4,02%. 0 4,04%. None of the options (1.02)2-1-4.04%

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Where does 1.02 come from in the solution below? This does not seem to be correct. I thought the answer would be 4%.
An investment provides a 2% return semi-annually, its effective annual rate is o 2%. 4%. 0 4,02%. 0 4,04%. None of the options (1.02)2-1-4.04%