On July 15, when the prime rate was set at 4%, Canadian Footwear took out an operating loan from CIBC for $9,500.00 at prime plus 1.25%. The terms of the loan require a fixed payment of $1,800.00 on the 15th of every month until the loan is repaid. The prime rate climbed by 0.5% on September 25. Complete the repayment schedule below by filling in the appropriate interest rates. Balance Annual Date before Interest Transaction Rate Number Interest of Days Charged Accrued Interest Payment (+) or Advance (-) Principal Balance after Amount Transaction Jul 15 $9,500.00 Aug 15 $9,500.00 % 31/365 $42.36 $42.36 $1,800.00 $1,757.64 $7,742.36 Sep 15 $7,742.36 % 31/365 $34.52 $34.52 $1,800.00 $1,765.48 $5,976.88 Sep 25 $5,976.88 % 10/365 $8.60 $8.60 Oct 15 $5,976.88 Nov 15 $4,204.31 ** % 20/365 $18.83 $27.43 $0.00 $1,800.00 $1,772.57 $0.00 $5,976.88 $4,204.31 % 31/365 $20.53 $20.53 $1,800.00 $1,779.47 $2,424.84 Dec 15 $2,424.84 % 30/365 $11.46 Jan 15 $636.30 96 31/365 $3.11 $11.46 $3.11 $1,800.00 $1,788.54 $639.41 $636.30 $636.30 $0.00 Note: You can earn partial credit on this problem. Preview My Answers Submit Answers You have attempted this problem 0 times. You have 5 attempts left before new version will be requested. You have unlimited attempts remaining. Show Past Answers Email Instructor