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Your credit card charges you a 2% fee for cash advances and has an EAR of 18%. It also starts charging you interest on cash
Your credit card charges you a 2% fee for cash advances and has an EAR of 18%. It also starts charging you interest on cash advances as soon as you get the advance. You get a cash advance of $600 on the first day of the month. You get your credit card bill at the end of the month. What is the total finance charge you will pay on this cash advance for the month?
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