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2. Encik Qash recently received his Visa bill for the period of March 15th - April 14th, 2006. He wants to verify the monthly finance
2. Encik Qash recently received his Visa bill for the period of March 15th - April 14th, 2006. He wants to verify the monthly finance charges calculation, which is assessed at a rate of 18 percent per year. The government set 5% minimum repayment on credit cards. 15/03/2006 Opening balance 20/03/2006 IKEA Damansara - sofa set 22/03/2006 Repayment 28/03/2006 Smartshop - Ab King Pro 30/03/2006 Return Ab King Pro to Smartshop due to defect 01/04/2006 Purchase return airline ticket to Kota Kinabalu 07/04/2006 Hyatt, Kota Kinabalu RM5,400 3,000 4,000 550 550 850 900 Use the average daily balance method including current purchases and adjusted balance method for your calculations. Which is the best method, and why
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