Instructions: All necessary work must be shown to receive full credit. Answers submitted with little to no support will receive no credit. If you are unsure about a problem, try to explain what you think needs to be done in words. #1. A company has an open line of credit with a zero balance at its credit union using a fixed interest rate of 5.4%. On the last day of every month, the accrued interest must be paid. On May 2nd the company made an advance of $20,000.00. On July 22nd, it made a payment of $12,350.00. Create the first 4 months of the company's repayment schedule starting May 2od.. #2. Heather took out a $13,500.00 demand loan on November 1 : at a fixed interest rate of 7%. She is required to make interest-only payments on the first of every month. She makes one payment of $3,000.00 on January 19. She wants to pay off the loan on April 1st. Create a full repayment schedule for the loan. (Assuming there it is not a leap year)