Problema Solution
Jim damato charged $86.50 on his faster charge card and got a cash advance of $120. There is a finance charge of
1.5% on purchases and 1% on cash advances. How much was his total finance charge
Answer provided by our tutors
$120 * 0.01 + $86.50 * 0.015 = 2.49749
The total finance charge for these two transactions would be approximately $2.50