You are considering an investment that has a nominal annual, Financial Management

You are considering an investment that has a nominal annual

You are considering an investment that has a nominal annual interest rate of 11.24 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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Financial Management: You are considering an investment that has a nominal annual

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