Miss Monica Fuentes bought a $9,000 1.5% 48 week T-Bill on May 8 and sold it to the Bank 26 weeks later at a discount rate of 1%.

a) Find the purchase price for the T-Bill (how much did it cost Monica to buy the T-Bill).

b) Find the discount at the time of the sale to the Bank.

c)Find the proceeds to Monica (how much did Monica receive from the Bank).

d) Find the Effective Interest Rate. e)How much profit is the Bank going to make when the 48 weeks are up?