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Exotic Furnishings Ltd . has a line of credit secured by the equity in the business. The limit on the line of credit is $

Exotic Furnishings Ltd. has a line of credit secured by the equity in the business. The limit on the line of credit is $44000. Exotic owed $25302.07 on its line of credit on April 1. The line of credit agreement requires a regular payment of $100.00 on the principal plus interest(including overdraft interest) by electronic transfer after closing on the last day of each month. Overdraft interest is 17% p.a. The line of credit interest is variable. It was 5.4% on April 1,5.9% effective June 16, and 6.95% effective September 14.
(a) Calculate the interest payments on April 30, May 31, June 30, July 31, August 31, and September 30.
(b) What is the account balance on September 30?
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