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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. a. You borrow $650
Effective rate of interest Find the interest rates earned on each of the following. Round each answer to two decimal places. a. You borrow $650 and promise to pay back $702 at the end of 1 year. % b. You lend $650 and the borrower promises to pay you $702 at the end of 1 year. C. You borrow $69,000 and promise to pay back $110,472 at the end of 12 years. d. You borrow $8,000 and promise to make payments of $2,219.30 at the end of each year for 5 years
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