(2 points) The Green Growery Nursery needs to borrow $48000 to increase its inventory for the...

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(2 points) The Green Growery Nursery needs to borrow $48000 to increase its inventory for the upcoming summe session. The owner is confident that he will sell most, if not all, of the new plants during the summer, so he wishes to borrow money for only four months. His bank has offered him a simple interest amortized loan at 93% interest (a) Find the size of the monthly bank payment. (b) Complete the following amortization schedule for all four months of the loan. Payment Number Principal Portion 0 1 Interest Portion Total Payment Balance 2 3 (2 points) The Green Growery Nursery needs to borrow $48000 to increase its inventory for the upcoming summe session. The owner is confident that he will sell most, if not all, of the new plants during the summer, so he wishes to borrow money for only four months. His bank has offered him a simple interest amortized loan at 93% interest (a) Find the size of the monthly bank payment. (b) Complete the following amortization schedule for all four months of the loan. Payment Number Principal Portion 0 1 Interest Portion Total Payment Balance 2 3