You have to multiply 12 by -16 =-192. When you subtract-200 with -192 you get -8
Answer:
The answer is $3277.48
Step-by-step explanation:
An Annual Percentage Rate or APR is calculated by taking into account the interest rate on a credit card (or another borrowed sum) and any other charges such as an annual fee or arrangement fee.
So the first step here is to calculate the 3.5% cash advance fee on cash advance of $2790.00.
$2790.00 × 3.5%
2790 × (3.5 ÷ 100)
2790 × 0.035
$97.65
Now APR is calculated on the sum of cash advance and cash advance fee, i.e.,
13.5% × (2790 + 97.65)
13.5% × 2887.65
( 13.5 ÷ 100 ) × 2887.65
0.135 × 2887.65
$389.83
The total amount due at the end of the month is sum of Cash advance, Cash advance fee and APR
$2790 + $97.65 +$389.83 = $3277.48
Zero cannot be a denominator.
