Click here to read the eBook: Finding the Interest Rate, I Click here to read the eBook: Comparing Interest Rates EFFECTIVE RATE OF INTEREST Find the interest rates earned on each of the following. Round each answer to two decimal places. a. You borrow $700 and promise to pay back $777 at the end of 1 year. b. You lend $700 and the borrower promises to pay you $777 at the end of 1 year. % c. You borrow $96,000 and promise to pay back $230,070 at the end of 15 years. d. You borrow $12,000 and promise to make payments of $2,771.70 at the end of each year for 5 years. %