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please answer all part of questions and answer must be right. Determine the missing information for the following line of credit for the month of
please answer all part of questions and answer must be right.
Determine the missing information for the following line of credit for the month of March. Daily interest of 1.5% p.a. is earned on all positive balances. Daily interest of 6.25% p.a. is charged on all negative (line of credit) balances. Overdraft interest of 19.75% p.a. is charged on daily amounts exceeding $1,000. Service charge of $9.00 is charged for each transaction causing an overdraft or adding to an overdraft. 1.) Determine the amount of interest earned. (a positive value) 2.) Determine the amount of interest charged on the line of credit. (a positive Uverarart interest oi 1y.10\% p.a. is cnarged on daily amounts exceeding $1,000. Service charge of $9.00 is charged for each transaction causing an overdraft or adding to an overdraft. 1.) Determine the amount of interest earned. (a positive value) 2.) Determine the amount of interest charged on the line of credit. (a positive value) 3.) Determine the amount of interest charged on overdrafts. (a positive value) 4.) Determine the amount of service charges. (a positive value) 5.) Determine the account balance of March 31, 2021. (This will be a negative number!) Step by Step Solution
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