TUTORIAL 10 Ms Jacky owns a Platinum Master card & usually pays her daily expenses using her credit card. Mastercard bill for period Dec 11 206 - January 10, 2017 Interest charged 18% per annum Bank requires standard 5% for monthly minimum payment Transaction Date 11-Dec-16 14-Dec-16 21-Dec-16 23-Dec-16 24-Dec-16 24-Dec-16 24-Dec-16 29-Dec-16 30-Dec-16 01-Jan-17 03-Jan-17 10-Jan-17 Description Opening balance Famous Amos IOI Puchong Pizza Hut Tesco Secret Recipe Brand Outlet 101 Shell lump S/B Selangor My Mydin Touch & Go Payment Seoul Garden Shell lump S/B Selangor McDonald Debit/Credit (RM) 770 92 41 36 180 54 110 300 860 80 50 35 Jacky needs to verify the monthly finance charges by the bank. Compute the avarage daily balance. Interest amount, outstanding balance, minimum payment & outstanding balance after minimum payment using average daily balance method (including current purchases) Tutorial 2310 6034 10 INo Day 7/13 3 790*3 =2310 1420 7 G40+92)+7 862x7 21-22 2 (8 62 +41) x 2 = 90342 23 2 1903 +36) = 93941 124-28 5 ,939+(180 +54 + 1103344 1939+3447x5 1283 29 2 11283+300)+1 1583 1,806 39 III 111111111 6415 1583 2 30-31 der 1446 1606 1583 - 860 x 2 723 (723+ 80 ) x2 803 359 7 (803 +50)+7 853 853 +35) + 888 31 5,971 lo jer 1 28,998 Da Aggregale belance / No of By 28,998 31 935-419 2) 1% Interest 0.185 12 = 0.615*100 1-584 9380419 14.031 13 outstands 1888 + 14.031 = 902.031 4 monmon payment of 5% 0.05x outstand 0.054 902.031 45/0) s outstanding after 902.031 - 45-108 2856.93