Question: I need some help. Determine the effective rate for $1 invested for 1 year at 7.5% compounded semiannually The effective rate is % (Do not

I need some help.

Determine the effective rate for $1 invested for 1 year at 7.5% compounded semiannually The effective rate is % (Do not round until the final answer. Then round to the nearest thousandth as needed.)

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