Problem A. Line of Credit Analysis (42 pts) Calculate the amount of interest and principal paid...

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Problem A. Line of Credit Analysis (42 pts) Calculate the amount of interest and principal paid in each year based on the history of borrowing and payments on the line of credit. Using that information, find the outstanding balance as of that date. Assume that interest accrues over the course of the month. So, for example, any outstanding balance on January 1 has accrued one month of interest on February 1. Show your work in order to receive full credit. Annual $ $ 69 Date Interest Borrowed Repaid Int Paid Principal Outstanding Paid Balance Monthly Accrued Interest Interest Rate Jan. 1 50,000 8% 0 Feb. 1 0 8% 9,000 Mar. 1 25,000 8% 0 Apr. 1 0 9% 0 May 1 15,000 9% 0 Jun. 1 0 10% 30,000 Jul. 1 0 10% 0 Aug. 1 0 10% 35,000 Sep. 1 25,000 10% 0 Oct. 1 0 10% 18,000 Nov. 1 0 9% 12,000 Dec. 1 0 9% 14,902.69 Problem A. Line of Credit Analysis (42 pts) Calculate the amount of interest and principal paid in each year based on the history of borrowing and payments on the line of credit. Using that information, find the outstanding balance as of that date. Assume that interest accrues over the course of the month. So, for example, any outstanding balance on January 1 has accrued one month of interest on February 1. Show your work in order to receive full credit. Annual $ $ 69 Date Interest Borrowed Repaid Int Paid Principal Outstanding Paid Balance Monthly Accrued Interest Interest Rate Jan. 1 50,000 8% 0 Feb. 1 0 8% 9,000 Mar. 1 25,000 8% 0 Apr. 1 0 9% 0 May 1 15,000 9% 0 Jun. 1 0 10% 30,000 Jul. 1 0 10% 0 Aug. 1 0 10% 35,000 Sep. 1 25,000 10% 0 Oct. 1 0 10% 18,000 Nov. 1 0 9% 12,000 Dec. 1 0 9% 14,902.69