Effective rate of interest

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Reference no: EM131829252

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

You borrow $680 and promise to pay back $714 at the end of 1 year. __________%

You lend $680 and the borrower promises to pay you $714 at the end of 1 year. _______%

You borrow $61,000 and promise to pay back $210,589 at the end of 13 years. ______%

You borrow $10,000 and promise to make payments of $2,504.60 at the end of each year for 5 years. __________%

Reference no: EM131829252

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