Assignment:
Find the interest rates earned on each of the following. Round each answer to two decimal places.
a. You borrow $750 and promise to pay back $795 at the end of 1 year.
b. You lend $750 and the borrower promises to pay you $795 at the end of 1 year.
c. You borrow $95,000 and promise to pay back $199,961 at the end of 11 years.
d. You borrow $10,000 and promise to make payments of $2,504.60 at the end of each year for 5 years.
Provide complete and step by step solution for the question and show calculations and use formulas.