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Joan will spend $498.00 on a new washing machine. She will use her credit card to withdraw $500.00 cash to pay for the machine. The credit card company charges a $5.00 cash-withdrawal fee and 2% interest on the borrowed amount, but not including the cash-withdrawal fee. How much will Joan owe after one month?

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Respuesta :

$510.00    2% of 500 is 10  so add 10 to 500. equalling $510.00 next if it was two months you would repeat but 2% of $510 unless you paid down the credit

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