Question

a bank charges a 1% fee to process a credit card cash advance whis is taken out of the cash advance amount. A customer wants a cash advance of $4,000. how much money will he receive from the bank after the cash advance has been processed.

Answer 1

Answer:
`\$\ 3600`

Explanation:

Given : A bank charges a 1% fee to process a credit card cash advance which is taken out of the cash advance amount.

The rate of fee can be also written as 0.01.

The amount of money a customer wants as a cash advance = $4,000

The amount of bank fee =
`0.01*4000=40`

The amount which customer receive after cash advance has been processed =
`4000-40=\$3600`

Hence, the amount of money will he receive from the bank after the cash advance has been processed =
`\$\ 3600`