Kive

B

$1$

vor

$x_1{x}^2$

$A*2*A=$

$24$

Sthe

nise

Beraty

tratr

T

Mini$-$Case B: $(3$ marks for $5$ marks each$)$

Uno lives in Ontario and goes to the University of Torente. He has been using hls new student credit card BMO CashBack' Mastercard" quite frequently. Even with a $$500$ credit limit$,$ he loves the cashback rewards he ta accumulating. With hls part$-$time job earning an annual income of $$12,000$ a year, he only makes minimum payments. Use the Inls below and your own research to help determine if the following statements are True or False. Highlight and Underling the corroct response.

a$)$ Cush advance $($using $365$ dayi$)$ is at the effoctive antran interest rate of $27\mathrm{.}10\%.$ True or False

b$)$ Couh edvances have no $21-$dry gace period, where interest is charged at the time of the cemh advace. True or Falve

c$)$ IfLino goes over His credit limit of $$500,$ he will be churgod a foe of $$35.$ True or Falve

d$)$ Lino wed his credit eard to bry a lottery ticket which is comsidered a ctab$-$like tramaction where interest is caleulated uting the exat sdvance rates. True or Falve

c$)$ Lho uned His credit errd to pay lis cellphooe bill, which is considered a canb$-$like transectica and is mbject to interest charges at the cash advasee rate. True of False

f$)$ FILino misses his monthly minimum payment, all his transactions will be charged interest starting from the dite of esech purchase. True or Falve

I

ine quertion

Elaterether