Answer: $14
Step-by-step explanation:
Hi, to answer this question we have to multiply the amount of the cash advance (700) by the APR for cash advances in decimal form (divided by 100):
700 x (24/100) = $168 (a year)
To obtain the monthly charges, we have to divide the result by the number of months in a year (12):
168 /12 = $14
Feel free to ask for more if needed or if you did not understand something.
