What was the cash advance fee

Reference no: EM131486057

Question: Sidney took a $200 cash advance by using checks linked to her credit card account. The bank charges a 2 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived. What was the cash advance fee? What was the interest for one month at an 18 percent APR? What was the total amount she paid? What if she had made the purchase with her credit card and paid off her bill in full promptly?

Reference no: EM131486057

Questions Cloud

Why is important to build database of client sources : Why is important to build database of client sources? Why is it important to develop professional relationships? When is it not appropriate to contact a person.

Two types of benefit by implementing lean approach : What are the two types of benefit by implementing a lean approach? How does the break-even point change after implementing a lean approach?

Possibility of forming international joint venture : Blaine and Solera are discussing the possibility of forming international joint venture. Solera is very optimistic about future revenues.

How waiting time is affected by variability and utilization : The following two scenarios describe how the waiting time is affected by variability and utilization

What was the cash advance fee : Sidney took a $200 cash advance by using checks linked to her credit card account. The bank charges a 2 percent cash advance fee on the amount borrowed.

What is the amount invested by the company : What is the amount invested by the company in net assets for the current year? How much was the total equity for the current year

What are ethical implications of such behavior in friendship : What are the ethical implications of such behavior in friendship? how exactly can both conceptions be true?

Policies are necessary to promote worker health and safety : Might there be situations in which English only policies are necessary to promote worker health and safety?

Was postponing her purchase a good trade-off for brooke : Brooke lacks cash to pay for a $600 washing machine. She could buy it from the store on credit by making 12 monthly payments of $52.74 each.

User Account

All Pages