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Cash Advance: You can get __ from an ATM using your credit card. However, you are borrowing money from ______.Transactions of this type are called _____. Your credit card company will charge you a finance charge on the cash advance starting the day you withdraw the money. There is no ____ for cash advance. Card companies often charge a _____. They often charge a ____ fee for the cash advance in addition to the finance charge. They often charge a ____ periodic rate for cash advances than for regular balances. To find the interest, multiply the amount of the advance ____ by the daily periotic interest ____ and the number of days of the loan ____ .To find the new finance charge, add the interest to any ___ paid. The cash advance and finance charges are added to find the amount needed to pay off the ____. ​



Answer :

Cash Advance: You can get **cash** from an ATM using your credit card. However, you are borrowing money from **your credit card company**. Transactions of this type are called **cash advances**. Your credit card company will charge you a finance charge on the cash advance starting the day you withdraw the money. There is no **grace period** for cash advances. Card companies often charge a **cash advance fee**. They often charge a **higher** periodic rate for cash advances than for regular balances. To find the interest, multiply the amount of the advance **by** the daily periodic interest **rate** and the number of days of the loan **period**. To find the new finance charge, add the interest to any **fees** paid. The cash advance and finance charges are added to find the amount needed to pay off the **loan**.

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