EFFECTIVE RATE OF INTEREST..........................

"nun-"urn";- I'uI-P an\". Illulluuh- :- 1 9. Problem 5.12 EFFECTIVE RATE OF INTEREST Find the interest rates earned on each of the following. Round each answer to two decimal places. a. You borrow $710 and promise to pay back $781 at the end of 1 year. % b. You lend $710 and the borrower promises to pay you $781 at the end of 1 year. % c. You borrow $88,000 and promise to pay back $125,467 at the end of 12 years. % d. You borrow $14,000 and promise to make payments of $3,693.20 at the end of each year for 5 years