Find the interest rates earned on each of the following. Round each answer to two decimal places.
- You borrow $700 and promise to pay back $777 at the end of 1 year.
- You lend $700 and the borrower promises to pay you $777 at the end of 1 year.
- You borrow $61,000 and promise to pay back $80,272 at the end of 7 years.
- You borrow $10,000 and promise to make payments of $2,504.60 at the end of each year for 5 years.