Effective rate of interest

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Reference no: EM131316616

Find the interest rates earned on each of the following. Round each answer to two decimal places.

You borrow $690 and promise to pay back $759 at the end of 1 year. %

You lend $690 and the borrower promises to pay you $759 at the end of 1 year. %

You borrow $51,000 and promise to pay back $121,705 at the end of 5 years. %

You borrow $8,000 and promise to make payments of $2,219.30 at the end of each year for 5 years. %

Reference no: EM131316616

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