Ch 05: End-of-Chapter Problems - Time Value of Money Back to Assignment Attempts: Keep the Highest: 14 6. Problem 5.12 (Effective Rate of Interest) eBook Find the interest rates earned on each of the following. Round your answers to the nearest whole number. a. You borrow $700 and promise to pay back $742 at the end of 1 year. % b. You lend $700 and the borrower promises to pay you $742 at the end of 1 year. % C. You borrow $66,000 and promise to pay back $86,116 at the end of 9 years. d. You borrow $12,000 and promise to make payments of $2,771.70 at the end of each year for 5 years. Grade It Now Save & Continue Continue without saving