You take out a cash advance of $1,670.00 on a credit card with a 2% cash advance fee and a 13.5% APR. What is the amount due by the end of the month? A. $1,722.
Mathematics
Williamsjurnee
Question
You take out a cash advance of $1,670.00 on a credit card with a 2% cash advance fee and a 13.5% APR. What is the amount due by the end of the month?
A.
$1,722.56
B.
$1,895.45
C.
$1,933.36
D.
$1,703.40
2 Answer

1. User Answers Aliwohaish12
A=1,670×(1+0.135÷12)+1,670×0.02
A=1,722.19 
2. User Answers wifilethbridge
Answer:
$1703.4
Stepbystep explanation:
Given : You take out a cash advance of $1,670.00 on a credit card with a 2% cash advance fee and a 13.5% APR.
To Find: What is the amount due by the end of the month?
Solution:
2% cash advance fee = [tex]2\% \times 1670[/tex]
= [tex]\frac{2}{100} \times 1670[/tex]
= [tex]33.4[/tex]
So, the amount due by the end of the month = $1,670.00 + $33.4
=$1703.4
Hence the amount due by the end of the month is $1703.4