Trump Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less; 80 percent for account balances between 31 and 40 days; and 70 percent for account balances between 41 and 45 days. Customers that take over 45 days to pay their bills are not considered as adequate accounts for a loan.

The current prime rate is 10 percent, and Trump Financial Corporation charges 5 percent over prime to Marla Maple Sugar Company as its annual loan rate.

a. Determine the maximum loan for which Marla Maple Sugar Company could qualify.

Maximum loan amount $

b. Determine how much one months interest expense would be on the loan balance determined in part a.

Interest expense $