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Hazim's monthly credit card statement shows a previous balance of RM5 642.50. It also indicates that during the past month, he was charged RMI 220.20
Hazim's monthly credit card statement shows a previous balance of RM5 642.50. It also indicates that during the past month, he was charged RMI 220.20 worth of purchases to the card and made a RMI 450 payment to the credit card company. His monthly interest rate is 2.25% on the first RMI 250 and 1.25% on the amounts that over RMI 250. Calculate Hazim's previous balance before new charges and payments on the account are made. (5 Marks).
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