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You have a credit card on which your beginning balance for the month was $400. On the 10th of the month you took out a
You have a credit card on which your beginning balance for the month was $400. On the 10th of the month you took out a cash advance of $500. During the month you made purchases of $250. Assuming that the interest rate on purchases is 15 percent (1.25 percent per month), cash advances is 18 percent (1.5 percent per month), and there is a 1 percent fee on all cash advances, what would you have to pay to pay off your account if your due date is the 30th of the month.
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