Find the interest rate (or rates of return) in each of the following situations. Do not round intermediate calculations. Round your answers to the...
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Please calculate the following, but do not use excel if possible. Thank you.

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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 $650 and promise to pay back $676 at the end of 1 year.
%
b. You /end $650 and receive a promise to be paid $676 at the end of 1 year.
%
c. You borrow $60,000 and promise to pay back $289,075 at the end of 12 years.
%
d. You borrow $16,000 and promise to make payments of $5,001.00 at the end of each of the next 5 years.

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Answer a) Interest Rate = 4% b)... View the full answer

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