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QUESTION 3 (CLO 3) Mr. Donny has a habit of spending spree habit, particularly using his credit card (PB Platinum Visa Credit Card). He prefers to pay only the minimum amount each time the statement arrives. On 15 April 2020, his outstanding balance was already a whopping RM15,500. However, that did not deter him from keep on spending. On 4th April, he had bought through online purchase, a pair of jeans costing RM150, a sunglass costing RM200 and a designer shirt at RM180. On 10th April, he had purchased a smart innovative television at Samsung store and this cost RM9,600. Since it was a big amount, the store, collaborated with PB Platinum Visa offered customers who made large purchase to turn into smaller payments with an instalment payment scheme. Mr. Donny thus agreed to this instalment payment of 12 months and the first instalment was effective on the date of purchase. Other transactions that Mr. Donny paid for using his credit card were: Date 12 April 13 April 14 April 16 April 20 April Transactions Groceries at online Urban Fresh Lazada online Shopee online Amazon.com (e-book) at USD$30 @ RM4.27 Carousell online RM 280 150 120 350 There was also a refund of RM250 a transaction wrongly debited to his account in March 2020. The refund would be credited to his account on 21 April 2020. Using average daily balance method including current purchases, COMPUTE the following: a) Average daily balance b) Total interest charge c) Amount of outstanding balance d) Minimum payment e) Outstanding payment after minimum payment Assume that the interest charged is 18% per annum on the unpaid balance and the minimum payment required is 5%

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