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Gayle has a HELOC with MCAP Financial Corporation at an interest rate of prime + 2%. Her current balance owing on November 1 is $15,000.00

Gayle has a HELOC with MCAP Financial Corporation at an interest rate of prime + 2%. Her current balance owing on November 1 is $15,000.00 and she is required to make interest-only payments on the first of every month. The prime rate is set at 4.25%. She makes one payment of $2,000.00 on January 19. Create three months of her repayment schedule.

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