Many bank credit card issuers charge a transaction fee for non-ATM cash advances. Van has a bank credit card. If he takes a non-ATM cash advance, the bank will charge him 2% of the amount of the advance, or a flat fee of $5, whichever is more. Van needs to obtain a non-ATM cash advance of $400.

What is his transaction fee?

This week Van is out of town, and has access to cash advances only by non-ATM methods. For each non-ATM cash advance that he takes, he will be charged 2% of the amount of the advance, or a flat fee of $5, whichever is more.

Van took five cash advances during the week, each for $80. What is the total of his cash advances for that week?

What would the transaction fee be, based on percentage, for each cash advance?

What would the minimum transaction fee be for each cash advance?

Which transaction fee will be charged for each of Vans advances?

What will be the total of his transaction fees for the week?

If Van had taken just one cash advance for $400 at the beginning of the week, what would his transaction fee have been?

_________ lower transaction fees by?

options are : one transaction for $400 causes or Five transactions totaling $400 cause