4. Malaki has a 'no interest-free period' credit card that charges 16.5% p.a. interest. On 9 January he purchases a phone costing K395.00. His January statement is dated 28 January and the phone is the only item on it.
a. How much interest is charged on the January credit card statement?
b. Malaki pays K100.00 off the amount owed on 28 January and makes no more purchases or payments before the next credit card statement arrives on 28 February. How much will this statement show that Malaki owes?