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DTI obtained a 550.000 line of credit from the bank on January 1 Year I. DTI agreed to accept a variabile interest rate that was
DTI obtained a 550.000 line of credit from the bank on January 1 Year I. DTI agreed to accept a variabile interest rate that was set at 2 above the bank's prime ting. The interest and the amounts boxowed or repaid during the first three months of Year I are shown in the following table. Assume that DTI borrows or sepays on the first day of each shown as a positive amount and repayments se shown as negative amounts indicated by parentheses. Prime Rate 09 Month January February March Amount Horrowed Repaid) 530,000 S(15.000) SI0.000 Based on this informatice slone, the amount of interest expense rounded to the nearest 1) recognized in March would be Maple Choice . $100 0 O 5146 $200 FIC RAC January February March $30.000 S(15,000) $10,000 6% 696 59 Based on this information alone, the amount of interest expense (rounded to the nearest S1) recognized in Marche Multiple Choice $104 O $446 $58 O $146 $292
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