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Registered Retirement Savings Plan (RRSP) contribution. Because she used the loan proceeds to purchase Canada Trust's mutual funds for her RRSP, she received a special

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Registered Retirement Savings Plan (RRSP) contribution. Because she used the loan proceeds to purchase Canada Trust's mutual funds for her RRSP, she received a special interest rate of prime plus 0.5%. Beth was required to make fixed monthly payments of $1000 on the 15th of each month, beginning April 15. The prime rate was initially 4.75%, but it jumped to 5% effective June 15 and increased another 0.25% on July 31. (It was not a leap year.) Complete the repayment schedule below. Date Number Interest Rate Interest (S) of Days (%) Accrued Payment Interest ($) (Advance) Principal Portion (S) Balance (S) Feb 23 Apr 15 1000 5.25 5.25 II 51 30 31 30 16 15 31 May 15 Jun 15 Jul 15 Jul 31 Aug 15 Sep 15 36.68 17.42 13.62 9.35 2.60 2.55 0.40 5.51 36.68 17.42 13.62 9.35 2.60 5.15 0.40 963.32 982.58 986.38 990.65 4036.68 3054.10 2067.72 1077.07 1077.07 1000 1000 0 1000 3.5 5.75 5.75 994.83 Paragraph B I UA OO Q + +

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