Suppose your business has secured a line of credit and recieves the accompanying statement of account for the month of July. The limit on your line of credit is $1000. You recieve daily interest if 1.9% per annum on positive balances and pay daily interest of 6% per annum on negative line of credit balances. Overdraft interest is 21% per annum on the daily amount exceeding your line of credit limit. There is a service charge for $5 for each transaction causing an overdraft or adding to an overdraft.

a) Calculate the amount of interest earned

b)Calculate the amount of interest charged on the line of credit

c)calculate the amount of interest charged on overdrafts

d) calculate the amount of service charge

e) what is the account balance on July 31?

round all final answers to the nearest cent. round all intermediate values to six decimal places as needed.

fideritiesu ewed it July Statement