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4. The total current amount due to a purchate made by using credit card is PS4,245.50. Based on the agreement the minimum required payment is 8.5% of the total amount due, If the client pays only the minimum required payment, a charge 2.5% of the remaining balance will be carried on to the next bill. If there are no purchases made for the next two months and a charge of 2.5% is added every billing period, what is the required monthly bill for the next months? TIME/MONTH TOTAL AMOUNT DUE FOR MINIMUM REQUIRED THE MONTH PAYMENT FOR THE MONTH

4. The total current amount due to a purchate made by using credit card is PS4,245.50. Based on the agreement the minimum required payment is 8.5% of the total amount due, If the client pays only the minimum required payment, a charge 2.5% of the remaining balance will be carried on to the next bill. If there are no purchases made for the next two months and a charge of 2.5% is added every billing period, what is the required monthly bill for the next months? TIME/MONTH TOTAL AMOUNT DUE FOR MINIMUM REQUIRED THE MONTH PAYMENT FOR THE MONTH

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. The total current amount due to a purchase made by using credit card is P54,245.50, Based on the agreement the minimum required payment is 8.5% of the total amount due, If the client pays only the minimum requlred payment, a charge 2.5% of the remaining balance will be carried on to the next bill. If there are no purchases made for the next two manths and a charge of 2.5% is added every billing period, what is the required monthly bill for the next months? TIME/MONTH TOTAL AMOUNT DUE FOR MINIMUM REQUIRED THE MONTH PAYMENT FOR THE MONTH
Transcribed Image Text:4. The total current amount due to a purchase made by using credit card is P54,245.50, Based on the agreement the minimum required payment is 8.5% of the total amount due, If the client pays only the minimum requlred payment, a charge 2.5% of the remaining balance will be carried on to the next bill. If there are no purchases made for the next two manths and a charge of 2.5% is added every billing period, what is the required monthly bill for the next months? TIME/MONTH TOTAL AMOUNT DUE FOR MINIMUM REQUIRED THE MONTH PAYMENT FOR THE MONTH
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