Effective rate of interest

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EFFECTIVE RATE OF INTEREST

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 $59,000 and promise to pay back $364,380 at the end of 11 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: EM131855681

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