Question: can ypu explain how to do this question Question 17 111 pts What is the effective annual rate (EAR) for a nominal rate (semi-annual compounding)

can ypu explain how to do this question

Question 17 111 pts What is the effective annual rate (EAR) for a nominal rate (semi-annual compounding) of 6.24 %? SET YOUR CALCULATOR TO 4 DECIMAL PLACES THEN INPUT THE NUMBER AS PERCENTAGE ROUNDING TO 2 DECIMALS. DO NOT ENTER THE % SYMBOL..i.e. if your answer is 7.77%, enter it as 7.77 6.34 7swer 6.34 margin of error +/- 0.01

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