The higher interest rate of a cash advance on a credit card with an existing balance can be eliminated by paying the cash advanc
2 answers:
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Answer:
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
substitute in the formula above