4. CHAPTER 8-QUESTIONS a. A 5% promissory note for $10 000 was issued 183 days ago. How much cash is needed today to pay the note? b. SportZ has secured a line of credit with the Bank of Alberta. The following transac- tions were made for the last month. The account receives daily interest of 1.5% p.a. on positive balances and pays daily interest of 8% p.a. on negative balances. The limit on the line of credit is $10 000. Overdraft interest of 19% p.a. is charged on the daily amount exceeding the line of credit limit. For each transaction causing an overdraft or adding to an overdraft, a service charge of $10 is applied. Calculate the interest, overdraft interest, service charges, and the month-end balance for the line of credit. Date Transaction Description Deposit Withdrawal Balance March 1 Balance - 4000.00 Cheque 437 2185.00 -6185.00 7 Cheque 438 421.00 -6606.00 12 Deposit 6000.00 -606.00 15 Cheque 439 5128.00 -5734,00 21 Cheque 440 6133.00 -11867.00 23 Deposit 2000.00 -9867.00 27 Deposit 5000.00 -4867.00 31 Interest charged Overdraft interest Service charge 5 c. SportZ has negotiated a loan of $25 000 with interest at 7.6% per annum, to be paid as month-end payments of $2200,00 over the next year. Construct a loan amortiza- tion schedule to answer the following questions. 6) How much interest is paid over the first two months? (ii) How much of the principal is paid by the end of the first two months? (iiiHow much interest is paid over the term of the loan? (iv) What is the amount of the final payment