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Find the interest rates earned

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Question - EFFECTIVE RATE OF INTEREST - Find the interest rates earned on each of the following:

a. You borrow $ 700 and promise to pay back $ 749 at the end of 1 year.

b. You lend $ 700 and the borrower promises to pay you $ 749 at the end of 1 year.

c. You borrow $ 85,000 and promise to pay back $ 201,229 at the end of 10 years.

d. You borrow $ 9,000 and promise to make payments of $ 2,684.80 at the end of each year for 5 years.

Reference no: EM132699285

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