Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Tonya obtained a cash advance on March 2 for $750.00. She paid off the cash advance including the interest charges on May 24 (84 days).
Tonya obtained a cash advance on March 2 for $750.00. She paid off the cash advance including the interest charges on May 24 (84 days). The annual interest rate on her cash advance is 24.50%. How much interest did Tonya pay for this cash advance by the time she paid it off? (After converting the daily interest percentage rate to a decimal, round it to 6 places)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started