Answer:
$75.59.
Explanation:
• Cost of the surgery = $5,323.21
,• Monthly interest rate = 1.42%
A finance charge is a fee charged for the use of a credit card. A billing cycle is usually between 28 to 31 days, i.e. a month.
To find the finance charge, multiply the interest rate by the cost of surgery.
[tex]\begin{gathered} \text{Fnance Charge}=1.42\%\text{ of \$}5,323.21 \\ =\frac{1.42}{100}\times5,323.21 \\ =\$75.59 \end{gathered}[/tex]The finance charge for the first billing cycle is $75.59.
