A credit card account has an unpaid balance of Php8,210 as of April 5, 2017..Purchases amounting to Php4,045 on groceries and Php12,000 on apparels were made on April 12, 2017 and April 15, 2017, respectively. A cash advance of Php10,000 was credited to the account with a flat rate of 5% monthly on April. 18, 2017. A cash payment of Php15,000 was made on April 30: 2017. If the company policy excludes cash advances in the computation of the ADB, what is the total finance charges on the May 5, 2017 bill if the interest rate on the ADB is 3.5% per month?
A credit card account has an unpaid balance of Php8,210 as of April 5, 2017..Purchases amounting to Php4,045 on groceries and Php12,000 on apparels were made on April 12, 2017 and April 15, 2017, respectively. A cash advance of Php10,000 was credited to the account with a flat rate of 5% monthly on April. 18, 2017. A cash payment of Php15,000 was made on April 30: 2017. If the company policy excludes cash advances in the computation of the ADB, what is the total finance charges on the May 5, 2017 bill if the interest rate on the ADB is 3.5% per month?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A credit card account has an unpaid balance of Php8,210 as of April 5, 2017..Purchases
amounting to Php4,045 on groceries and Php12,000 on apparels were made on April 12, 2017
and April 15, 2017, respectively. A cash advance of Php10,000 was credited to the account with a
flat rate of 5% monthly on April. 18, 2017. A cash payment of Php15,000 was made on April 30;
2017. If the company policy excludes cash advances in the computation of the ADB, what is the
total finance charges on the May 5, 2017 bill if the interest rate on the ADB is 3:5% per month?
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