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Find what amount will customer have to pay on september

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Reference no: EM132932438

The movements of a customer's credit account at a department store are:

Debit on February 28: $1,000

Balance on February 5: $5,000

Credit on April 15 : $2,000

Charge on June 30: $2,500

Charge on July 31: $1,500

Credit on September 30: $10,000

Problem 1: If the store charges an interest rate of 72% p.a. What amount will the customer have to pay on September 30 to settle his account?

Reference no: EM132932438

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