Question: Calculate the effective rate for 14% interest compounded semiannually. Express the effective simple interest rate as a percentage. reff=% (Round to two decimal places as

Calculate the effective rate for 14% interest compounded semiannually. Express the

Calculate the effective rate for 14% interest compounded semiannually. Express the effective simple interest rate as a percentage. reff=% (Round to two decimal places as needed.)

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