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Attempts Keep the Highest / 4 Problem 5 . 1 2 ( Effective Rate of Interest ) eBook Find the interest rates eamed on each

Attempts Keep the Highest /4
Problem 5.12(Effective Rate of Interest)
eBook
Find the interest rates eamed on each of the following. Round your answers to the nearest whole number.
a. You borrow $710 and promise to pay back $781 at the end of 1 year.
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b. You lend $710, and the borrower promises to pay you $781 at the end of 1 year.
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c. You borrow $55,000 and promise to pay back $77,391 at the end of 7 years.
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d. You borrow $16,000 and promise to make payments of $5,001,00 at the end of each year for 5 years.
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