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please do it fast Exotic Furnishings Ltd. has a line of credit secured by the equity in the business. The limit on the line of
please do it fast
Exotic Furnishings Ltd. has a line of credit secured by the equity in the business. The limit on the line of credit is $45,000. Exotic owed $25,761.14 on its line of credit on June 1. The line of credit agreement requires a regular payment of $250 00 on the principal plus interest (including overdraft interest) by electronic transfer after closing on the last day of each month Overdraft interest is 19% pa. The line of credit interest is variable. It was 5.2% on June 1,575% effective August 13, and 6.65% effective November 14. (a) Calculate the interest payments on June 30, July 31, August 31, September 30, October 31, and November 30. (b) What is the account balance on November 30? (a) The amount of interest charged on June 30 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed) The amount of interest charged on July 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Enter youStep by Step Solution
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