Question

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​

Answer 1

3035 php
There were 2 purchases made worth 2000 and 999 php. The total becomes 2999. 1.2% of 2999 is 35.998. 2999+35.998=3034.998 rounded off to 3035 pho