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 $750 and promise to pay back $780 at the end of 1 year.

You lend $750 and the borrower promises to pay you $780 at the end of 1 year.

You borrow $70,000 and promise to pay back $88,674 at the end of 8 years.

You borrow $8,000 and promise to make payments of $2,219.30 at the end of each year for 5 years.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92412258

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