Bob took a $500 cash advance from his credit card. The credit card company charges 25% interest

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Bob took a $500 cash advance from his credit card. The credit card company charges 25% interest that compounds daily. How much will Bob owe in a year, assuming 365 days?

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Mar 08, 2024 01:18 AM

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Bob took a $500 cash advance from his credit card. The credit card company charges 25% interest

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To calculate how much Bob will owe in a year we can use the formula for co... View the full answer

Personal Finance

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