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please calculate: the amount of interest earned the amount of interest charged on the line of credit amount of interest charged on overdrafts the amount
please calculate:
the amount of interest earned
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 April 30th.
thank you.
Suppose you have a line of credit and receive the accompanying statement of account for the month of April. The limit on your line of credit is $1000.00. You receive daily interest of 1.7% p.a. on positive balances and pay daily interest of 8% p.a. on negative (line of credit) balances. Overdraft interest is 19% 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. P: Click the icon to view the statement for the month of April. April Statement (a) Calculate the amount of interest earned. Total interest earned = $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Deposit Withdrawal Balance 1 Date April 10 14 356.00 Transaction Description Balance Deposit Cheque 226 Cheque 227 Cheque 228 Deposit 18 22 370.00 772.00 419.00 -631.49 - 275.49 - 645.49 - 1417.49 - 1836.49 119.51 ? 1956.00 26 30 Print DoneStep by Step Solution
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