+ atuled Home Insert Comment Edit Page Proted Tools Alt Add Text Edt Picture insert pictures Change tuid Crop Page Split Page Header and footer Background Watermart Marlia currently has a Visa card from her bank with the following terms: 18% on purchases, 24% on cash advances with a 4% cash advance fee on the amount and a default or penalty rate of 36%. Her current statement shows a balance of RM6,000. So far, she has only taker one cash advance, withdrawing RM1,000 from an ATM machine at mall in Genting Highland a year ago, which she has already paid off. Lately she has been having a hard time paying more than the minimum payment of 4% of her balance. The only assets she owns are a seven- year-old car and a RM2,500 certificate of deposit that has a 5% annual percentage rate (APR). Calculate: a) Marlia's minimum payment due (3 marks) b) Current annual percentage yield (APY) on the credit card (4 marks) c) The annual percentage yield (APY) on Marlia's default or penalty rate (5 marks) d) If Marlia buys a new television for RM800 this month and sends in a credit card payment of RM1,200 when she gets her credit card statement how much interest will she pay on the television for the month? (5 marks) Using the Adjusted Balance Method, Marlia sends in a pay for RM1,000, how much will the finance charge be on her remaining balance? (Use the AM6,000 balance for your calculations). (5 marks) hp Edit Picture insert pictures Change tuid on the television for the month Crop Page Split Page Header and Footer Background Watermark" (5 marks) e) Using the Adjusted Balance Method, if Marlia sends in a payment for RM1,000, how much will the finance charge be on her remaining balance? (Use the RM6,000 balance for your calculations). (5 marks) 0 It is now three months later and Maria has missed two payments in a row and she is now paying the default or penalty rate on her balance. How much interest per month wil Marlia be accruing on her unpaid balance? (5 marks) Give three (3) advice to Marlla concerning her use of credit cards. (3 marks) 9) TOTAL 30 MARKS hp a % 5 & 6 7 00 9 O + atuled Home Insert Comment Edit Page Proted Tools Alt Add Text Edt Picture insert pictures Change tuid Crop Page Split Page Header and footer Background Watermart Marlia currently has a Visa card from her bank with the following terms: 18% on purchases, 24% on cash advances with a 4% cash advance fee on the amount and a default or penalty rate of 36%. Her current statement shows a balance of RM6,000. So far, she has only taker one cash advance, withdrawing RM1,000 from an ATM machine at mall in Genting Highland a year ago, which she has already paid off. Lately she has been having a hard time paying more than the minimum payment of 4% of her balance. The only assets she owns are a seven- year-old car and a RM2,500 certificate of deposit that has a 5% annual percentage rate (APR). Calculate: a) Marlia's minimum payment due (3 marks) b) Current annual percentage yield (APY) on the credit card (4 marks) c) The annual percentage yield (APY) on Marlia's default or penalty rate (5 marks) d) If Marlia buys a new television for RM800 this month and sends in a credit card payment of RM1,200 when she gets her credit card statement how much interest will she pay on the television for the month? (5 marks) Using the Adjusted Balance Method, Marlia sends in a pay for RM1,000, how much will the finance charge be on her remaining balance? (Use the AM6,000 balance for your calculations). (5 marks) hp Edit Picture insert pictures Change tuid on the television for the month Crop Page Split Page Header and Footer Background Watermark" (5 marks) e) Using the Adjusted Balance Method, if Marlia sends in a payment for RM1,000, how much will the finance charge be on her remaining balance? (Use the RM6,000 balance for your calculations). (5 marks) 0 It is now three months later and Maria has missed two payments in a row and she is now paying the default or penalty rate on her balance. How much interest per month wil Marlia be accruing on her unpaid balance? (5 marks) Give three (3) advice to Marlla concerning her use of credit cards. (3 marks) 9) TOTAL 30 MARKS hp a % 5 & 6 7 00 9 O
