Chapter 7: Cash Advance Cost Calculator

The Cash Advance Cost Calculator is used to determine the total cost of taking a cash advance from your credit card and paying it back over time. This calculation is complicated by the fact that not only do you pay interest on cash advances but also a one-time fee of a certain percentage of the advance amount. This calculator is shown in Figure A.11.

Figure A.11. Use the Cash Advance Cost Calculator to determine the total cost of a cash advance.

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