Calculate the total amount due on atm cash withdrawal

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Reference no: EM131974233

1. Calculate the total amount due on an ATM cash withdrawal of $450 using a credit card if the full amount is repaid after 17 days. The annual percentage rate for cash is 20.9% and there is a fee of 1.5% of the cash advance amount.

2. Madsen Motors's bonds have 17 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 6.5%; and the yield to maturity is 9%. What is the bond's current market price? Round your answer to the nearest cent.

Reference no: EM131974233

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