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Rachel Johnson Went to the ATM to Withdraw $300 Cash

Question 6

Multiple Choice

Rachel Johnson went to the ATM to withdraw $300 cash with her debit card. She inadvertently pulled out her credit card instead, not realizing the expenses for cash advances. If her credit card company charges a cash advance fee of 3% and interest at 24% APR, what are the total fees she will pay for her mistake?


A) $3
B) $6
C) $9
D) $15
E) $24

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