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A credit card issuer earns 15% per annum on any outstanding credit card balance. If interest is compounded on a monthly basis, this means that the credit card issuer is capable of earning close to % per annum on effective annual rate basis. Select one: a. 15.07 b. 17.07 c. 16.08 d. 16.57 Gavin has an overdraft account with pre-arranged limit of RM100,000. However, he has not utilized the facility as yet. This means: Select one: a. None of the above. b. The bank owes Gavin RM100,000. c. Gavin owes the bank RM100,000. d. Gavin is able to overdraw his current account up to RM100,000