Effective rate of interest
Find the interest rates earned on each of the following. Round each answer to two decimal places.
You borrow $680 and promise to pay back $714 at the end of 1 year. __________%
You lend $680 and the borrower promises to pay you $714 at the end of 1 year. _______%
You borrow $61,000 and promise to pay back $210,589 at the end of 13 years. ______%
You borrow $10,000 and promise to make payments of $2,504.60 at the end of each year for 5 years. __________%