The Green Growery Nursery needs to borrow $49,000 to increase its inventory for the upcoming summer season. The owner is confident that he will sell most, if not all, of the new plants during the summer, so he wishes to borrow the money for only four months. His bank has offered him a simple interest amortized loan at 9 1/4% interest. (a) Find the size of the monthly bank payment. interest. (Round your answers to the nearest cent.)

$ _______ (b) Prepare an amortization schedule for all four months of the loan.

Payment Number	Principal Portion	Interest Portion	Total Payment	Balance Due
0				$
1	$	$	$	$
2	$	$	$	$
3	$	$	$	$
4	$	$	$	$