Loans

Everlyne has a personal LOC with her bank with a maximum credit limit of $12,000.00. The interest rate is prime plus 1.5%, and the current prime rate is 4%. Regardiess of any account transaction activity, her bank requires on the first of every month for her to pay "the greater of 5% of the current balance or $100 from her checking account. She is alloved to exceed her maximum credit limit, but if she does the entire balance is subject to 20% interest until such time as the balance is restored below the credit limit. On October 1 , the opening balance on her LOC was $2,300.00. She took advances of $4,600.00,$4,500,00, and $4,900.00 on October 20, November 15, and December 1, respectively. She made payments of $4,300,00,$5,000.00, and $4,700.00 on November 1, November 24 , and December 16, respectively. The prime rate decreased by 0.75% on November 9. Complete the repayment schedule below by filling in the interest chargos for October, November, and December