23
QuizMultiple Choice

Topic Test

Question 23 • FowU - Financial Math - B

The higher interest rate of a cash advance on a credit card with an existing balance can be eliminated by paying the cash advance back within four weeks.

Answer
A
T
B
F

Explanation

Cash advances usually start accruing interest right away, unlike many purchases that may have a grace period. Paying the cash advance within four weeks can limit the interest charged, but it does not eliminate interest that has already accrued. So the statement is false; choice B is the false option.

AI-written and checked against the verified answer.

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