Click here to read the eBook: Finding the Interest Rate, I 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.

You borrow $700 and promise to pay back $742 at the end of 1 year.

what %

You lend $700 and the borrower promises to pay you $742 at the end of 1 year.

what %

You borrow $55,000 and promise to pay back $302,083 at the end of 13 years.

what %

You borrow $20,000 and promise to make payments of $6,687.60 at the end of each year for 5 years

what %