Willie has a habit of spending-spree habit particularly using his credit card (Hong Leong Visa Infinite Credit Card). His preference of payment is only the minimum amount each time the statement arrives. On 1st Oct 2022, his outstanding balance was already a hefty RM13,200. However, he never seems to be daunted with the danger of over spending. It did not deter him from keep on spending. On 3th Oct, he bought a pair of shoes costing RM430, a matching belt costing RM250 and a designer suit costing RM2,180 in KLCC. On 8th Oct, he had purchased the latest tablet at the Machine store and this cost RM6,000. Since it was a big amount, the store, collaborated with Hong Leong Visa Infinite Credit Card offered customers who made large purchase to turn into smaller payments with an instalment payment scheme. Mr Willie thus agreed to this instalment payment of 24 months and the first instalment was effective on the date of purchase. Other transactions that Mr. Willie paid for using his credit card were: Date Transactions 10 Oct Groceries at TESCO online 12 Oct Lazada online 14 Oct Shopee online 16 Oct Amazon.com (e-book) at USD$60 @RM4.29 (round to the nearest RM) 18 Oct eBay online 21 Oct Shopify online 23 Oct Carousell online 25 Oct Payment 28 Oct Shopee online RM 180 580 880 720 990 310 4,000 630 There was also a refund of RM580 a transaction wrongly debited to his account in September 2022. The refund would be credited to his account on 30 Oct 2022. a) Using the average daily balance method including current purchases, COMPUTE the following: i. Average daily balance 11. Total interest charge 111. Amount of outstanding balance iv. Minimum payment v. Outstanding payment after minimum payment (2 marks) (2 marks) (2 marks) (2 marks) (2 marks) b) Assume that the interest charged is 18% per annum on the unpaid balance and the minimum payment required is 5%. In your opinion, APPRAISE Mr Willie's spending habit that may have affected his monthly personal financial planning throughout the year.