### Effective rate of interest

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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 \$82,000 and promise to pay back \$293,821 at the end of 7 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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