#12.

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 $623,454 at the end of 11 years. d. You borrow $18,000 and promise to make payments of $4,390.00 at the end of each year for 5 years