Click here to read the eBook: Comparing Interest Rates EFFECTIVE RATE OF INTEREST Find the interest rates earned on each of the following. Round each answer to two decimal places. Oa. You borrow $710 and promise to pay back $781 at the end of 1 year. b. You lend $710 and the borrower promises to pay you $781 at the end of 1 year c. You borrow $50,000 and promise to pay back $156,922 at the end of 12 years. d. You borrow $11,000 and promise to make payments of $3,35950 at the end of each year for 5 years. Icon Key