Monty currently has a Visa card from his bank with the following terms 18% on purchases 24 % on cash advances with a 4% cash advance fee on the amount and a default or penalty rate of 36%. His current statement shows a balance of $6000 So far he has only taken one cash advance withdrawing $1000 from a casino in Las Vegas a year ago which he has already paid off Lately he has been having a hard time paying more than the minimum payment of 4% of his balance The only assets he owns are a seven year old car $3000 and a $2500 certificate of deposit that has a 5% APR Build Monty's credit card account and balance sheet

What is the current APY on this credit card?

please show work