3. What interest rates are implied by the following lending arrangements?

a. You borrow $500 and repay $555 in one year.

b. You lend $1,850 and are repaid $2,078.66 in two years.

c. You lend $750 and are repaid $1,114.46 in five years with quarterly compounding.

d. You borrow $12,500 and repay $21,364.24 in three years under monthly compounding.
(Note: In parts c and

d, be sure to give your answer as the annual nominal rate.)