Sandy had a beginning balance on her MasterCard statement of $300. This month she had purchases of $400, payments of $300, and a $100 cash advance. To avoid interest charges, Sandy must make a payment of
A) $400.
B) $500.
C) $100.
D) Sandy cannot avoid interest charges because of the cash advance.

Question

Quizplus · Accepted Answer

Cash advances on credit cards typically start accruing interest immediately, without a grace period, meaning Sandy cannot avoid interest charges on the cash advance regardless of her payment amount.

Sandy Had a Beginning Balance on Her MasterCard Statement of $300