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28 You received your credit card statement recently. The statement has the following information. Nov-01 Beginning Balance RM2,500 Nov-03 Tesco Supermarket 450 Nov-09 Petronas, Seksyen
28 You received your credit card statement recently. The statement has the following information. Nov-01 Beginning Balance RM2,500 Nov-03 Tesco Supermarket 450 Nov-09 Petronas, Seksyen 6 100 Nov-12 Eon Service Center 1,200 Nov-18 Payment 1,500 Nov-22 MAS flight return ticket to Alor Star 400 Nov-27 Holiday Villa, Alor Star 180 Nov-30 Closing RMXXX Based on the above information, calculate your: i) Average daily balance il) Interest charge (18% per annum) iii) Total outstanding balance. iv) Minimum payment (5%) v) Balance after the minimum payment The calculation will be based on average daily balance including current purchases. (10 marks)
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