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:

Identity Achieved

A status in identity development where an individual has explored and committed to specific personal and occupational roles and beliefs.

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A student in the first year of study at a college or university.

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A student in the final year of a college or university undergraduate degree program.

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The awareness and insight individuals have regarding their own traits, emotions, and values.