please calculate: the amount of interest charged on the line of credit

amount of interest charged on overdrafts

the amount of the service charge

the account balance on July 31st.

thank you.

Suppose your business has secured a line of credit and receives the accompanying statement of account for the month of July. The limit on your line credit is $1000.00. You receive daily interest of 1.1% p.a. on positive balances and pay daily interest of 8% p.a. on negative (line of credit) balances. Overdraft interest is 15% p.a. on the daily amount exceeding your line of credit limit. There is a service charge of $5.00 for each transaction causing an overdraft or adding to an overdraft. Use this information to complete parts (a) through (e) below. Click the icon to view the statement for the month of July. (a) Calculate the amount of interest earned. July Statement Total interest earned = $ 0.04 (Round the final answer to the nearest cent a (b) Calculate the amount of interest charged Deposit Withdrawal Balance Date July 2 Total line of credit interest charged =$ (Round the final answer to the nearest cent a 7 448.00 Transaction Description Balance Cheque 263 Cheque 264 Deposit Cheque 265 Cheque 266 15 246.00 20 1755.00 - 795.52 - 1243.52 - 1489.52 265.48 133.48 - 104.52 ? 24 132.00 238.00 28 31 Print Done Enter your answer in the answer box and t