Suppose you have a line of credit and receive the accompanying statement of account for the month of September. The limit on your line of credit is $1000.00 You receive daily interest of 19% pa on positive balances and pay daily interest of 5% pa on negative (line of credit) balances Overdraft interest is 17% pa on the daily amount exceeding your line of credit limit. There is a service charge of $5.00 for each transaction causing an overdraft or adding to an overdraft. Use this information to complete parts (a) through (e) below. Click the icon to view the statement for the month of September (a) Calculate the amount of interest earned Total interest earned =$ (Round to the nearest cont as needed Round all intermediate values to six decimal places as needed) (b) Calculate the amount of interest charged on the ine of credit. Total line of credit interest charged = $ (Round to the nearest cent as needed Round all intermediate values to so decimal places as needed) (c) Calculate the amount of interest charged on overdrafts Overdraft interests (Round to the nearest cont as needed Round all intermediate values to six decimal places as needed) (d) Calculate the amount of service charge Service charges (Round to the nearest cent as needed Round all intermediate values to six decimal places as needed) (e) What is the account balance on September 307 The account balance on September 30 is dollars, Enter your answer in each of the answer boxes Suppose you have a line of credit and receive the accompanying statement of account for the month of September. The limit on your line of credit is $1000.00 You receive daily interest of 19% pa on positive balances and pay daily interest of 5% pa on negative (line of credit) balances Overdraft interest is 17% pa on the daily amount exceeding your line of credit limit. There is a service charge of $5.00 for each transaction causing an overdraft or adding to an overdraft. Use this information to complete parts (a) through (e) below. Click the icon to view the statement for the month of September (a) Calculate the amount of interest earned Total interest earned =$ (Round to the nearest cont as needed Round all intermediate values to six decimal places as needed) (b) Calculate the amount of interest charged on the ine of credit. Total line of credit interest charged = $ (Round to the nearest cent as needed Round all intermediate values to so decimal places as needed) (c) Calculate the amount of interest charged on overdrafts Overdraft interests (Round to the nearest cont as needed Round all intermediate values to six decimal places as needed) (d) Calculate the amount of service charge Service charges (Round to the nearest cent as needed Round all intermediate values to six decimal places as needed) (e) What is the account balance on September 307 The account balance on September 30 is dollars, Enter your answer in each of the answer boxes
