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You have a credit card company that advertises an APR of 18%. However, cash advances are subject to daily compounding. If you had cash advance
You have a credit card company that advertises an APR of 18%. However, cash advances are subject to daily compounding. If you had cash advance of $5,000 now and did not pay any money between now and a year from now, how much total interest would result at the end of the year? Ignore any late fees or other penalties.
Group of answer choices
$985.82
$978.09
$900.00
$935.44
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