J4 means compounded quartly.

[3] Eileen R Edwards borrowed $10,147 and agreed to pay back $11,147 13 months later. The interest rate was the standard rate used by banks. a. What was her rate of interest expressed as a J? b. What is this rate expressed as an effective half year rate? [3] C. If Eileen deposited $1,147 in the bank, and a further $1,147 eight months later, how much would she have in her bank account after a total of 19 months? Use the effective half year rate determined in (b) only. No other rate is to be used in this calculation. [4] d. Who is/was Eileen R Edwards? Tol [3] Eileen R Edwards borrowed $10,147 and agreed to pay back $11,147 13 months later. The interest rate was the standard rate used by banks. a. What was her rate of interest expressed as a J? b. What is this rate expressed as an effective half year rate? [3] C. If Eileen deposited $1,147 in the bank, and a further $1,147 eight months later, how much would she have in her bank account after a total of 19 months? Use the effective half year rate determined in (b) only. No other rate is to be used in this calculation. [4] d. Who is/was Eileen R Edwards? Tol