HW1-5 (Session 3). You receive a credit card offer with 0% promotional APR for 18 months, a 5% cash advance fee charged immediately to the balance, a $20,000 credit limit and no minimum monthly payments. You want to use the card for short-term financing and max out your cash advance. (a) Briefly explain why this is not a free loan offer, even if you pay the balance in full by the end of the 18-month period. (b) What is your equivalent annualized interest rate if you repay the balance in full at the end of the promotional period? (c) In this scenario, does paying off your credit card debt early before the end of the promotional period improve your interest rate? Explain why or why not