What Is The Effective Rate Of $18,600 Invested For One Year At 7.5%, Compounded Semiannually? Round Your Answer To The Nearest Hundredth."

E = (1+I/m)^m -1

Here
I = .075/2  (semi annually)
= 0.0375
m = 2

Putting the value in the formula you will get

e = (1 + 0.0375)^2 - 1
= (1.0375)^2-1
= 1.076406 -1
= 0.076406
= 7.6406% >>>answer