Mathematics, 18.03.2021 01:00, j3barr01

Patty took a cash advance of $1500. Her new credit card charges an annual percentage rate of 21%. The transaction free for cash advances is 3% of the cash advance, with a maximum fee of $35. This fee is added to a total cash advance, and accrues interest. If Patty makes monthly payments of $65:

7.How long will it take Patty to pay for the cash advance?

8.What is the total amount Patty will end up paying for the cash advance?

9.How much interest and fees will Patty pay?

If Patty pays the cash advance back at a rate of $130 per month:

10.How long will it take Patty to pay for the cash in advance?

11.What is the total amount Patty will end up paying for the cash advance?

12:How much interest and fees will Patty pay?

Answers: 3

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Patty took a cash advance of $1500. Her new credit card charges an annual percentage rate of 21%. Th...