Effective Rate of Interest Find the interest rate (or rates of return) in each of...
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Finance
Effective Rate of Interest Find the interest rate (or rates of return) in each of the following situations. Do not round intermediate calculations. Round your answers to the nearest whole number. a. You borrow $680 and promise to pay back $748 at the end of 1 year. % b. You lend $680 and receive a promise to be paid $748 at the end of 1 year. % C. You borrow $70,000 and promise to pay back $229,490 at the end of 8 years. % d. You borrow $9,000 and promise to make payments of $2,684.80 at the end of each of the next 5 years. %
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