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please answer all part of questions and answers must be right Deb secured a line of credit for her business and received the following statement
please answer all part of questions and answers must be right
Deb secured a line of credit for her business and received the following statement of account for the manth of Fehriiaru on?1 Daily interest of 1.5% p.a. is earned on all positive balances. Daily interest of 7% p.a. is charged on all negative (line of credit) balances. Overdraft interest of 18% p.a. is charged on daily amounts exceeding $1,000. Service charge of $5.00 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 Daily interest of 7% p.a. is charged on all negative (line of credit) balances. Overdraft interest of 18% p.a. is charged on daily amounts exceeding $1,000. Service charge of $5.00 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 Feb 28, 2021. (This will be a negative number!) Deb secured a line of credit for her business and received the following statement of account for the manth of Fehriiaru on?1 Daily interest of 1.5% p.a. is earned on all positive balances. Daily interest of 7% p.a. is charged on all negative (line of credit) balances. Overdraft interest of 18% p.a. is charged on daily amounts exceeding $1,000. Service charge of $5.00 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 Daily interest of 7% p.a. is charged on all negative (line of credit) balances. Overdraft interest of 18% p.a. is charged on daily amounts exceeding $1,000. Service charge of $5.00 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 Feb 28, 2021. (This will be a negative number!) Step by Step Solution
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