4 Charming Paper Company sells to the 12 accounts listed here. Average Ma of the hecount Over the last Year 27 A Receivable Balance Outstanding = 64,300 212,000 74,900 20,300 56.600 35,200 321,000 49,900 92.000 284,000 66,000 Dock 260.00 G 13 61 42 32 25 68 31 51 10 33 1 Hint Prime Capital Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less, 80 percent for account balances between 31 and 40 days, and 70 percent for account balances between 41 and 45 days. Customers that take over 45 days to pay their bils are not considered acceptable accounts for a loan The current prime rate is 18.50 percent, and Capital charges 4.50 percent over prime to Charming as its annual loan rate a. Determine the maximum loan for which Charming Paper Company could quality Maximum loan amount b. Determine how much one month's interest expense would be on the loan balance determined in part. Do not round Intermediate calculations. Round your final answer to 2 decimal places.) Z C V B N M 20,00 56.600 260,000 35,200 321,000 49,900 42 32 25 92.000 284,000 66,000 31 51 18 33 Capital Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less, 80 percent for account balances between 31 and 40 days, and 70 percent for account balances between 41 and 45 days. Customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. The current prime rate is 18.50 percent, and Capital charges 4.50 percent over prime to Charming as its annual loan rate a. Determine the maximum loan for which Charming Paper Company could qualify . Maximum loan amount b. Determine how much one month's interest expense would be on the loan balance determined in part a. (Do not round Intermediate calculations. Round your final answer to 2 decimal places.) Interest expense MacBook Air 000 4 BO F1 F1 * FS F3 A * @ # 3 $ 4 % 5 6 & 7 8 9 9 0 2 W E 0 R T YU