Effective Rate of Interest

Find the interest rate (or rates of return) for each of the following situations. Round your answers to two decimal places.

You borrow $700 and promise to pay back $749 at the end of 1 year. %

You lend $700 and receive a promise to be paid $749 at the end of 1 year. %

You borrow $80,000 and promise to pay back $133,060 at the end of 15 years. %

You borrow $9,000 and promise to make payments of $2,000 at the end of each year for 6 years. %