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Rachel Johnson went to the ATM to withdraw $200 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 4% and interest at 22% APR,what are the total fees she will pay for her mistake?
Future Value Factor
A multiplier used to calculate the estimated future value of a current investment or cash flow at a specified rate of return.
Cash Flows
The entire amount of funds transferred into and out of an entity, impacting its liquidity.
Future Value Factor
A multiplier used to calculate the future value of an investment based on its present value and interest rate over time.
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