Madeline’s credit card charges 21.99% per annum on cash advances and 7.99% per annum on purchases. She had the following transactions during the month of August.
August 4 Purchased shoes for a total of $112.
August 9 Withdrew $200 as a cash advance from her credit card.
August 31 Received the credit card statement, showing a minimum balance owing of $10. On the statement, the payment date was stated as September 11.
(a) Compute the amount of interest charged on the cash advance.
(b) IfMadelinemakesafullpaymentonSeptember11, how much must she pay?
(c) If Madeline pays the minimum amount on September 11, what does the balance owe after the payment?
(d) If there are no further transactions during September, how much owes at the end of September?