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Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to meet this requirement charge 1%, interest per month. paid at each

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Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to meet this requirement charge 1\%, interest per month. paid at each month-end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $30,000 is used to repay loans at month-end. The company has a cash balance of $30,000 and a foan balance of $60,000 at January 1 . Prepare monthly cash budgets for January. February, and March. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.)

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