Effective rate of interestfind the interest rates earned on, Ask an Expert

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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 $710 and promise to pay back $781 at the end of 1 year.

You lend $710 and the borrower promises to pay you $781 at the end of 1 year.

You borrow $82,000 and promise to pay back $293,821 at the end of 7 years.

You borrow $20,000 and promise to make payments of $6,687.60 at the end of each year for 5 years.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92257287

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