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Tourist Trap souvenir shop has a business line of credit with an annual percentage rate...

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Accounting

Tourist Trap souvenir shop has a business line of credit with an annual percentage rate of prime plus 4.5%. The starting balance was $17,500 on March 1. On March 9 Tourist Trap borrowed $5521.84 to pay for a shipment of Tshirts and hoodies. On March 16, a payment of $2625 was made. On March 24 Tourist Trap borrowed an additional $2250 to pay for air conditioning repairs. The current prime rate is 1.7%.
What is the finance charge for March? $


What is the new balance as of April 1? $

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