Answer:
The amount Sergei was charged in interest for the billing cycle is given by, $ 5.2 .
Step-by-step explanation:
According to the question, the amount Sergei was charged in interest for the billing cycle is given by, the sum of the interest on $ 350 for 12 days and the interest on $ 520 for 18 days both calculated at 14% APR.
So, the amount Sergei was charged in interest for the billing cycle is given by,
$ ([tex]350 \times 12 \times \frac {14}{100 \times 365}[/tex] + [tex]520 \times 18 \times \frac {14}{100 \times 365}[/tex]
[tex]\simeq[/tex] $ 5.2
