Find the interest rates earned on given situations

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Reference no: EM131969659

Question: Effective rate of interest, find the interest rates earned on each of the following:

a. you borrow $720 and promise to pay back $792 at the end of 1 year

b. you lend $720 and the borrower promises to pay at$792 at the end of 1year.

c. you borrow $65,000 and promise to pay back 98,319 at the end of 14years.

d. you borrow $15,000 and promised to make payments of 4,058.50 at the end of each year for 5years

Reference no: EM131969659

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