The image shows the table and there are two highlighted columns. The first, I am not sure how to get the number. Please help me figure out what number should be there. The last column I think is correct but need assurance please. Colson Company has a line of credit with Federal Bank. Colson can borrow up to $$800,000$ at any time over the course of the calendar year. The image shows the template and shows the prime rate expressed as an annual percentage along with the amounts borrowed and repaid during the year. Colson agreed to pay interest at an annual rate equal to $2$ percent above the bank's prime rate. Please note that the interest rate for each month must be converted into a monthly rate by dividing by $12.$ Funds are borrowed or repaid on the first day of the month. Interest is payable in cash on the last day of the month. The interest rate is applied to the outstanding monthly balance. For example, Colson pays $((4$ percent $+2$ percent$)/12)$ monthly interest on $$80,000$ for the month of January.