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 $780 at the end of 1 year.
You lend $750 and the borrower promises to pay you $780 at the end of 1 year.
You borrow $63,000 and promise to pay back $121,302 at the end of 5 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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Effective rate of interest Find the interest rates earned on each of the following. Round each answer to two decimal places. You borrow $710 and promise to pay back $781 at the end of 1 year. % You lend $710 and the borrower promises to pay you $781 at the end of 1 year. % You borrow $86,000 and promise to pay back $370,698 at the end of 14 years. % You borrow $20,000 and promise to make payments of...
5-4: Finding the Interest Rate, I 5-16: Comparing Interest Rates Effective rate of interest Find the interest rates earned on each of the following. Round each answer to two decimal places. a. You borrow $700 and promise to pay back $770 at the end of 1 year. % b. You lend $700 and the borrower promises to pay you $770 at the end of 1 year. c. You borrow $58,000 and promise to pay back $182,802 at the end of...
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Find the interest rates earned on each of the following. Round your answers to the nearest whole number. a. You borrow $750 and promise to pay back $795 at the end of 1 year. 6 % b. You lend $750 and the borrower promises to pay you $795 at the end of 1 year. 6 % c. You borrow $56,000 and promise to pay back $260,534 at the end of 11 years. D % d. You borrow $10,000 and promise...
Find the interest rates earned on each of the following. Round each answer to two decimal places. You borrow $700 and promise to pay back $763 at the end of 1 year. % You lend $700 and the borrower promises to pay you $763 at the end of 1 year. % You borrow $98,000 and promise to pay back $119,232 at the end of 5 years. % You borrow $9,000 and promise to make payments of $2,684.80 at the end...
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eBook Find the interest rates earned on each of the following. Round your answers to the nearest whole number . You borrow $700 and promise to pay back $742 at the end of 1 year . % You lend $700 and the borrower promises to pay you $742 at the end of 1 year. % You borrow $87,000 and promise to pay back $215,409 at the end of 8 years. % You borrow $11,000 and promise to make payments of...
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