Effective rate of interest

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

You borrow $750 and promise to pay back $795 at the end of 1 year.

You lend $750 and the borrower promises to pay you $795 at the end of 1 year.

You borrow $89,000 and promise to pay back $246,805 at the end of 9 years.

You borrow $15,000 and promise to make payments of $4,058.60 at the end of each year for 5 years.

Reference no: EM13847587

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