a nominal annual interest rate of 8.10 percent,

a nominal annual interest rate of 8.10 percent,

You are considering an investment that has a nominal annual interest rate of 8.10 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)

Homework #3E (Perpetuity, EAR, RRR

Finance 330