Your bank card has an APR of 9 percent and there is a 2 percent fee for cash advances. The bank starts charging interest on cash advances immediately. You get a cash advance of $1,800 on the first day of the month. You get your credit card bill at the end of the month. 

What is the approximate total finance charge you will pay on this cash advance for the month?

Answer rating: 100% (QA)

To calculate the total finance charge we need to consider the cash adva... View the full answer