Find the interest rate (or rates of return) for each of the following situations. Round your answers to two decimal places.
He borrows $750 and promises to repay $810 at the end of 1 year.
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You lend $750 and receive a promise to repay $810 at the end of 1 year.
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Borrows $70,000 and promises to repay $228,277 after 14 years.
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Borrows $8,000 and promises to make payments of $2,444.9 at the end of each year for 4 years.
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Answer rating: 100% (QA)

To find the interest rate when he borrows 750 and promises to repay 810 at the end of 1 year we can use the simple interest formula Interest Principal ... View the full answer