Find the interest rate (or rates of return) in each of the following situations. You borrow $700 and promise to pay back $749 at the end of 1 year. You lend $700 and receive a promise to be paid $749...


Find the interest rate (or rates of return) in each of the following situations.



  1. You
    borrow
    $700 and promise to pay back $749 at the end of 1 year.

  2. You
    lend
    $700 and receive a promise to be paid $749 at the end of 1 year.

  3. You borrow $85,000 and promise to pay back $201,229 at the end of 10 years.

  4. You borrow $9,000 and promise to make payments of $2,684.80 at the end of each of the next 5 years.



Jun 04, 2022
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