SOLUTION: I need the easiest way to answer this type of question. If a bank account balance is 2102.04 and the bank charges a cash advance fee of 3.5 percent, what amount should the customer
Question 407882: I need the easiest way to answer this type of question. If a bank account balance is 2102.04 and the bank charges a cash advance fee of 3.5 percent, what amount should the customer request in order to bring the account to a zero balance? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! If a bank account balance is 2102.04 and the bank charges a cash advance fee of 3.5 percent,
what amount should the customer request in order to bring the account to a zero balance?
:
Let a = amt requested to bring balance to 0
:
2102.04 - (a + .035a) = 0
:
2102.04 - (1.035a) = 0
:
Simplify this to an equation of
1.035a = 2102.04
a =
a = $2,030.96
:
:
See if that is true:
2030.96 + .035(2030.96) =
2030.96 + 71.08 = 2102.04
:
:
I would request one cent less because those banks may not round it to .96
and then these crooks will say you have 1 cent overdraft and charge you an
overdraft fee.
