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THX!!! Hope you guys stay safe! 4. Cash advances on bank credit cards Many bank credit card issuers charge a transaction fee for non-ATM cash
THX!!! Hope you guys stay safe!
4. Cash advances on bank credit cards Many bank credit card issuers charge a transaction fee for non-ATM cash advances, Kevin 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. Kevin needs to obtain a non-ATM cash advance of $300. What is his transaction fee? $ This week Kevin 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. Kevin took three cash advances during the week, each for $100. 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 Kevin's advances? $ What will be the total of his transaction fees for the week? $ If Kevin had taken just one cash advance for $300 at the beginning of the week, what would his transaction fee have been? $ lower transaction fees by $||Step by Step Solution
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