Timothy Carter Went Out to Eat with His Girlfriend at a Fancy

question 58

Multiple Choice

Timothy Carter went out to eat with his girlfriend at a fancy restaurant. When he tried to pay the bill with his Mastercard credit card, he was told that the restaurant accepted only cash or American Express. His waiter suggested that he use the ATM across the street to withdraw cash using his credit card. Tim did as suggested and didn't pay attention to any fees until he received his credit card statement one month later. He was shocked to see the total fees (3% cash advance) , and his APR was increased to 21%. Given the cost of the meal ($125) plus the associated fees, how much did his meal cost him?

• A) $2.19.
• B) $3.75.
• C) $125.
• D) $130.94.
• E) $151.25.

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Definitions:

Sliding Scale

A method used to adjust the dose of a medication, such as insulin, based on specific variables, typically blood sugar levels.

ADE (Adverse Drug Event)

A harmful or unpleasant reaction that results from taking a medication as prescribed or by error.

Long-Acting Insulins

These are insulins designed to manage blood sugar levels over an extended period, typically lasting over 24 hours.