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QUESTION 3 Dr. Azroy received his MAYBANK credit card statement for the period beginning 15 July to 14 August 2021. The interest rate is
QUESTION 3 Dr. Azroy received his MAYBANK credit card statement for the period beginning 15 July to 14 August 2021. The interest rate is charged at 18 percent per annum and the bank requires standard 5 percent for the monthly minimum payment. The account transaction statement is stated below. Transaction Date July 15 July 16 July 17 July 20 July 22 July 30 August 5 August 5 August 13 Descriptions Opening balance HOME U Supermarket Darul Aitam recurring donation MAYBANK credit card payment Air Asia return ticket to Langkawi Bookstore Remy H&M Store Petrol - Petron RM 4,100 550 80 2,500 350 315 400 80 650 KBMALL-Timberland outlet Using the average daily balance method (including current purchases), assist Dr. Azroy to calculate the following: i) average daily balance, interest amount, outstanding balance, minimum payment, and outstanding balance after minimum payment. (10 marks)
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