Question: Build and submit a working spreadsheet to answer these questions! On January 1st, Monica borrows $1000 on-demand loan from her bank. Interest is paid at

Build and submit a working spreadsheet to answer these questions! On

Build and submit a working spreadsheet to answer these questions!

On January 1st, Monica borrows $1000 on-demand loan from her bank. Interest is paid at the end of each quarter(March 31, June 30, September 30, December 31)and at the time of last payment. Interest is calculated at the rate of 12% on the outstanding loan. Monica repaid the loan with payments shown in the figure below. Calculate interest payments required and the total interest paid? March 1 $ 100 April 17 $ 300 July 12 $ 200 August 20 $ 100 October 18 $ 300 $1000

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