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Exotic Furnishings Ltd. has a line of credit secured by the equity in the business. The limit on the line of credit is $45,000. Exotic owed $26,932.51 on its line of credit on March 1. The line of credit agreement requires a regular payment of $200.00 on the principal plus interest (including overdraft interest) by electronic transfer after closing on the last day of each month. Overdraft interest is 19% p.a. The line of credit interest is variable. It was 7.3% on March 1, 7.8% effective May 17, and 6.85% effective August 15. (a) Calculate the interest payments on March 31, April 30, May 31, June 30, July 31, and August 31. (b) What is the account balance on August 31? Click the icon to view the transactions for the period March 1 to August 31. (a) The amount of interest charged on March 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on April 30 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on May 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on June 30 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on July 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on August 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The balance on August 31 is dollars. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) - X i Transactions .) Principal Principal Withdrawal Payment Interest Payment Balance - 26,932.51 200.00 ? .) 5000.00 Date Mar. 01 31 Apr. 21 30 May 31 June 22 30 July 19 31 Aug. 31 200.00 200.00 ? ? 6000.00 200.00 ? -) 10,000.00 C 200.00 200.00 ? ? ? 24 Print Done Exotic Furnishings Ltd. has a line of credit secured by the equity in the business. The limit on the line of credit is $45,000. Exotic owed $26,932.51 on its line of credit on March 1. The line of credit agreement requires a regular payment of $200.00 on the principal plus interest (including overdraft interest) by electronic transfer after closing on the last day of each month. Overdraft interest is 19% p.a. The line of credit interest is variable. It was 7.3% on March 1, 7.8% effective May 17, and 6.85% effective August 15. (a) Calculate the interest payments on March 31, April 30, May 31, June 30, July 31, and August 31. (b) What is the account balance on August 31? Click the icon to view the transactions for the period March 1 to August 31. (a) The amount of interest charged on March 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on April 30 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on May 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on June 30 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on July 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest charged on August 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The balance on August 31 is dollars. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) - X i Transactions .) Principal Principal Withdrawal Payment Interest Payment Balance - 26,932.51 200.00 ? .) 5000.00 Date Mar. 01 31 Apr. 21 30 May 31 June 22 30 July 19 31 Aug. 31 200.00 200.00 ? ? 6000.00 200.00 ? -) 10,000.00 C 200.00 200.00 ? ? ? 24 Print Done