# Find the interest rates earned on each of the following. Round your answers to the nearest whole number.You borrow \$720 and promise to pay back \$792 at the end of 1 year.  %You lend \$720 and the borrower promises to pay you \$792 at the end of 1 year.  %You borrow \$65,000 and promise to pay back \$160,938 at the end of 8 years.  %You borrow \$8,000 and promise to make payments of \$2,219.30 at the end of each year for 5 years.  %

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Find the interest rates earned on each of the following. Round your answers to the nearest whole number.

1. You borrow \$720 and promise to pay back \$792 at the end of 1 year.

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2. You lend \$720 and the borrower promises to pay you \$792 at the end of 1 year.

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3. You borrow \$65,000 and promise to pay back \$160,938 at the end of 8 years.

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4. You borrow \$8,000 and promise to make payments of \$2,219.30 at the end of each year for 5 years.

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Step 1

Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and specify the other subparts (up to 3) you’d like answered.

Step 2

The formula to calculate interest rate is given below:

Step 3

1.

Present value of borrowed amount is \$720.

Future value of amount to be paid is \$...

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