You are always a little short of cash before your payday, which is the last day of each month. The last day of your credit card billing period is also the last day of each month.

On the twentieth day of each month, you get a cash advance of $250. Since you see your credit card bills electronically, your paycheck is automatically deposited into your checking account and you pay your bills from your checking account electronically; there are no unanticipated delays. On the fi rst day of every month, you pay your credit card bill, and it reaches the credit card company on the third day of the month. Assume a cash advance interest rate of 0.0500% per day and that every month has 31 days. How much is your monthly credit card bill for your cash advances? Assume that you fully pay your bill each month.