7. Find the Finance charges of Mr. Lambino's credit card using the 2 methods; his minimum...

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7. Find the Finance charges of Mr. Lambino's credit card using the 2 methods; his minimum payment due; New Balance Due; Due date; and billing cycle given the ff. Credit Limit: Php 100,000.00 Min Due is 3% 20Days after ; Fin charge = 3.50% Late payment fee-P500; Over limit fee-600 Previous Balance 03-Feb Billing Date 05-Feb Medicines 11-Feb travel tickets 12-Feb Restaurant meals 12-Feb Channel Shirt 13-Feb Universal Studio 13-Feb Hotel 09-Feb Lander's 23-Feb 82,885.18 P 4,150.40 ℗ 19,835.00 $ 70.25 $115.05 $ 140.00 $ 230.00 3,150.40 he made payment of 1/5 of Previous Balance *Convert transactions to Php *Conversion rate $1=P48.50 8) To pay off his credit card he decided to avail a salary loan w/ 0.75% straight monthly interest. How much will be the principal that he needs to borrow for him to pay off his credit card? (should be round off to nearest hundreds). Compute for the annual rate, future value, and monthly amortization if he plans to pay it in 3 ½ yrs? Box Final Answers!&PROVIDE for SOLUTIONS for questions above! NO SOLUTION will not be honored 7. Find the Finance charges of Mr. Lambino's credit card using the 2 methods; his minimum payment due; New Balance Due; Due date; and billing cycle given the ff. Credit Limit: Php 100,000.00 Min Due is 3% 20Days after ; Fin charge = 3.50% Late payment fee-P500; Over limit fee-600 Previous Balance 03-Feb Billing Date 05-Feb Medicines 11-Feb travel tickets 12-Feb Restaurant meals 12-Feb Channel Shirt 13-Feb Universal Studio 13-Feb Hotel 09-Feb Lander's 23-Feb 82,885.18 P 4,150.40 ℗ 19,835.00 $ 70.25 $115.05 $ 140.00 $ 230.00 3,150.40 he made payment of 1/5 of Previous Balance *Convert transactions to Php *Conversion rate $1=P48.50 8) To pay off his credit card he decided to avail a salary loan w/ 0.75% straight monthly interest. How much will be the principal that he needs to borrow for him to pay off his credit card? (should be round off to nearest hundreds). Compute for the annual rate, future value, and monthly amortization if he plans to pay it in 3 ½ yrs? Box Final Answers!&PROVIDE for SOLUTIONS for questions above! NO SOLUTION will not be honored

Answer rating: 100% (QA)

SOLUTION To compute for Mr Lambinos finance charges using the two methods we need to first calculate his New Balance Due and Minimum Payment Due New Balance Due Previous Balance Php 8288518 Medicines ... View the full answer