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Click on the following Icon a in order to paste this table's content into a spreadsheet Outstanding Balance Outstanding Balance Outstanding Balance Outstanding Balance Loan A Loan B Loan C Loan D Month $22,470 $68,246 $54,077 January February $31,607 $82,059 $ March $16,166 $96,786 $ $40,702 April $24,536 $45,768 $98,876 May $31,827 $13,911 $92,627 $80,100 $48,273 $37,728 June $ $95,154 $65,842 July August September October 2$ $60,046 $28,114 $54,915 $36,088 $22,910 $23,715 $22,906 $48,341 $24,626 $36,794 November $27,625 $48,726 $ $45,996 December $18,371 $55,467 $

Click on the following Icon a in order to paste this table's content into a spreadsheet Outstanding Balance Outstanding Balance Outstanding Balance Outstanding Balance Loan A Loan B Loan C Loan D Month $22,470 $68,246 $54,077 January February $31,607 $82,059 $ March $16,166 $96,786 $ $40,702 April $24,536 $45,768 $98,876 May $31,827 $13,911 $92,627 $80,100 $48,273 $37,728 June $ $95,154 $65,842 July August September October 2$ $60,046 $28,114 $54,915 $36,088 $22,910 $23,715 $22,906 $48,341 $24,626 $36,794 November $27,625 $48,726 $ $45,996 December $18,371 $55,467 $

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 2P: Cost of Bank Loan Mary Jones recently obtained an equipment loan from a local bank. The loan is for...
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Question 6. Attached is a similar question answered. Please complete for January through December :) 

Letter of credit or line of credit. As We Go Bank offers its customers a line-of-credit loan in which each month's outstanding balance has an interest charge at 11.1% APR. For the loans in the popup window, E, all with a $100,000 credit line, what are the required monthly interest payments and the total interest paid for the year? (Round to the nearest cent.) Interest Interest Interest Loan C Interest Month Loan A Loan B Loan D January $ 203.70 $ 634.82 $ 0.00 $ 496.08 Data Table Click on the following Icon A in order to paste this table's content into a spreadsheet Outstanding Balance Outstanding Balance Outstanding Balance Outstanding Balance Loan A. Loan B Loan C Loan D Month January $22,022 $68,629 $ $53,630 February $31,608 $82,599 $ $ 0 $16,276 $24,880 March $96,889 $ $41,156 $45,889 $ 0 April May $98,755 $92,402 $31,904 $13,256 $79,991 June $48,087 $ $95,293 $ 0 July $37,440 $ $60,470 $65,869 August September $28,429 $23,254 $24,831 $ $54,270 $22,722 $36,815 $22,166 $ 0 $48,085 October $36,420 $ 0 (? November $27,611 $48.040 $46,069 A Similar Question December $18,458 $55,176 $ 24 $ 0
Transcribed Image Text:Letter of credit or line of credit. As We Go Bank offers its customers a line-of-credit loan in which each month's outstanding balance has an interest charge at 11.1% APR. For the loans in the popup window, E, all with a $100,000 credit line, what are the required monthly interest payments and the total interest paid for the year? (Round to the nearest cent.) Interest Interest Interest Loan C Interest Month Loan A Loan B Loan D January $ 203.70 $ 634.82 $ 0.00 $ 496.08 Data Table Click on the following Icon A in order to paste this table's content into a spreadsheet Outstanding Balance Outstanding Balance Outstanding Balance Outstanding Balance Loan A. Loan B Loan C Loan D Month January $22,022 $68,629 $ $53,630 February $31,608 $82,599 $ $ 0 $16,276 $24,880 March $96,889 $ $41,156 $45,889 $ 0 April May $98,755 $92,402 $31,904 $13,256 $79,991 June $48,087 $ $95,293 $ 0 July $37,440 $ $60,470 $65,869 August September $28,429 $23,254 $24,831 $ $54,270 $22,722 $36,815 $22,166 $ 0 $48,085 October $36,420 $ 0 (? November $27,611 $48.040 $46,069 A Similar Question December $18,458 $55,176 $ 24 $ 0
Letter of credit or line of credit. As We Go Bank offers its customers a line-of-credit loan in which each month's outstanding balance has an interest charge at 11.5% APR. For the loans in the popup window, E, all with a $100,000 credit line, what are the required monthly interest payments and the total interest paid for the year? (Round to the nearest cent.) O Data Table Click on the following Icon a in order to paste this table's content into a spreadsheet Outstanding Balance Outstanding Balance Outstanding Balance Outstanding Balance Loan A Loan B Loan C Loan D Month January $22,470 $68,246 $82,059 $ $54,077 February $31,607 $ $ March $16,166 $96,786 $ 0 $40,702 April $24,536 $45,768 $98,876 May $31,827 $13,911 $92,627 $80,100 June $48.273 $ $95,154 $ July August $37,728 $ $60.046 $65.842 $28,114 $ $54,915 $ September $23,715 $22,906 $36,088 $48,341 October $24,626 $22,910 $ 0 $36,794 $48,726 $55,467 November $27,625 $ $45,996 December $18,371 $ 0 (?
Transcribed Image Text:Letter of credit or line of credit. As We Go Bank offers its customers a line-of-credit loan in which each month's outstanding balance has an interest charge at 11.5% APR. For the loans in the popup window, E, all with a $100,000 credit line, what are the required monthly interest payments and the total interest paid for the year? (Round to the nearest cent.) O Data Table Click on the following Icon a in order to paste this table's content into a spreadsheet Outstanding Balance Outstanding Balance Outstanding Balance Outstanding Balance Loan A Loan B Loan C Loan D Month January $22,470 $68,246 $82,059 $ $54,077 February $31,607 $ $ March $16,166 $96,786 $ 0 $40,702 April $24,536 $45,768 $98,876 May $31,827 $13,911 $92,627 $80,100 June $48.273 $ $95,154 $ July August $37,728 $ $60.046 $65.842 $28,114 $ $54,915 $ September $23,715 $22,906 $36,088 $48,341 October $24,626 $22,910 $ 0 $36,794 $48,726 $55,467 November $27,625 $ $45,996 December $18,371 $ 0 (?
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