Question: please step by step thank you ! Eileen R Edwards borrowed $10,369 and agreed to repay the loan by paying back $11,369 14 months later.

please step by step thank you ! Eileen R Edwards borrowed

please step by step thank you !

Eileen R Edwards borrowed $10,369 and agreed to repay the loan by paying back $11,369 14 months later. a. What rate of interest, expressed on a p.a. compounded once every two years basis, is she paying? [3] b. She decides to repay the loan earlier. She makes an initial repayment of $6,000 after 7 months If the same rate of interest is charged as in the initial loan, how much must she repay if she pays off the balance four months after the first repayment (i.e. 11 months after the loan is first taken out)

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