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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 $750 and

Effective rate of interest

Find the interest rates earned on each of the following. Round each answer to two decimal places.

You borrow $750 and promise to pay back $795 at the end of 1 year.

%

You lend $750 and the borrower promises to pay you $795 at the end of 1 year.

%

You borrow $59,000 and promise to pay back $185,954 at the end of 11 years.

%

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

%

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