Effective rate of interest
Find the interest rates earned on each of the following. Round each answer to two decimal places.
A. You borrow $660 and promise to pay back $693 at the end of 1 year.
________ %
B. You lend $660 and the borrower promises to pay you $693 at the end of 1 year.
________ %
C. You borrow $92,000 and promise to pay back $852,428 at the end of 15 years.
________ %
D. You borrow $16,000 and promise to make payments of $5,001.00 at the end of each year for 5 years.
_________ %