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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
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 $763 at the end of 1 year. %____
You lend $700 and the borrower promises to pay you $763 at the end of 1 year. ___%
You borrow $95,000 and promise to pay back $654,151 at the end of 13 years._____ %
You borrow $12,000 and promise to make payments of $2,771.70 at the end of each year for 5 years._____%
Can you show how to do this on BA II Plus if possible?
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