Cristina is looking around for a credit card and has narrowed his choices to three different banks. Each offers a different annual fee and interest rate, as given in the table below:

	APR	Annual Fee
Credit Card 1	19%	PHP 1,000
Credit Card 2	15%	PHP 1,750
Credit Card 3	22%	NONE

1. Which card will be the least expensive for her if:

1.1 balance varies from month to month, but is usually very high?

A. Credit Card 1

B. Credit Card 2

C. Credit Card 3

1.2 she carries an average balance of Php 50,000?

A. Credit Card 1

B. Credit Card 2

C. Credit Card 3

1.3 Pay off her balance in full within her grace period?

A. Credit Card 1

B. Credit Card 2

C. Credit Card 3

2. How large of a balance would Cristina need to carry on average for her to:

2.1 prefer credit card 1 over credit card 3?

A. more than Php 18, 750

B. more than Php 33, 333.33

C. more than Php 25, 150

D. more than Php 20, 150

2.1 Prefer credit card 2 over credit card 1?

A. more than Php 18, 750

B. more than Php 33, 333.33

C. more than Php 25, 150

D. more than Php 20, 150

3. AVERAGE DAILY BALANCE. A credit card account has a Php 5,000 balance on April 1. A purchase of Php 999 was made on April 5 and a payment of Php 2,000 was made on April 18. Find the average daily balance if the new billing date is May 1.

Note: Your answer must only contain numbers. Round off your answer to two decimal places.

4. A credit card account has a Php 5,000 balance on April 1. A purchase of Php 999 was made on April 5 and a payment of Php 2,000 was made on April 18. Find the total balance owed on the May 1 bill if the interest rate is 1.2% per month.

Note: Your answer must only contain numbers. Round off your answer to the nearest whole number.