3.Ed applied with Megabank for a credit card in his name that was approved with a monthly credit limit of P20,000.

By the end of March 2020, Ed's credit card purchases reached over P170,000. The bank's lawyer sent Ed a demand letter demanding payment of the said amount, plus (a) interest of 3% per month; (b) penalties at the rate of 5% per month to be computed from the time of filing of complaint until fully paid; and (c) 25% attorney's fees of the total amount due.

Since Ed did not comply with the demand letter, Megabank filed a complaint for the collection of a sum of money against him.

During trial, Ed questioned the claims on interests and penalties for very high; but Megabank asserted that these are the rates made known to Ed when he applied for the credit card, to which he agreed.

If you were the judge, how will you rule on Megabank's claims of interests, penalties and attorney's fees? Will you grant, or deny, or modify them?

Why or why not? Support your answer with an article or provision.