Mohammed got a $500 cash advance using his credit card, which charges 21.9%, compounded daily. He already had a balance of $761.73. a) Suppose that Mohammed wanted to pay off his credit card in 2 months.  He would need to pay _____ interest in total each month, and he would be paying _____Interet in total. b) Suppose that Mohammed wanted to pay $75 each month until he paid off  his credit card. This would take ____months, and he would be paying____ in interest. I need the answers and some gudience. Thank you very much.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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  1. Mohammed got a $500 cash advance using his credit card, which charges 21.9%, compounded daily. He already had a balance of $761.73.
  2. a) Suppose that Mohammed wanted to pay off his credit card in 2 months. 

He would need to pay _____ interest in total each month, and he would be paying _____Interet in total. b) Suppose that Mohammed wanted to pay $75 each month until he paid off 

his credit card. This would take ____months, and he would be paying____ in interest.

I need the answers and some gudience. Thank you very much. 

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