Account Statements (Grade 12 NSC Matric Mathematical Literacy): Quizzes

Monthly financial documents from stores

Maximum amount you can owe the store

Minimum amount you must pay each month

$\text{Opening}+\text{Purchases}-\text{Payments}$

$\text{Credit Limit}-\text{Amount Owed}$

Divide by $1.14$

$2.75\%$

R742.37

Confusing credit limit with credit available

They compound - you pay interest on interest