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Find the interest rates earned

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

  1. You borrow $700 and promise to pay back $777 at the end of 1 year.
  2. You lend $700 and the borrower promises to pay you $777 at the end of 1 year.
  3. You borrow $61,000 and promise to pay back $80,272 at the end of 7 years.
  4. You borrow $10,000 and promise to make payments of $2,504.60 at the end of each year for 5 years.

Reference no: EM131670302

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