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Exhibit 4.4 JSE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM Year 2000 % Price Change for Stock Index 8.0% 10.0% -14.0% 2001 2002 2003 20.0%

Exhibit 4.4 JSE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM Year 2000 % Price Change for Stock Index 8.0% 10.0% -14.0% 2001 2002 2003 20.0% 2004 -10.0% Refer to Exhibit 4.4. Calculate the average annual rate of change for this index for the five-year period using the arithmetic mean. a. 2.80% b. 0.28% c. 6.38% d. 1.28% e. 3.58%

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