Claire spent \( \$ 1,500 \) with her credit card this month. She had to use her credit card to pay for a hospital bill. Claire paid \( \$ 1,000 \) to the credit card company at the ond of the month. The credit card company charges Claire \( 30 \% \) interest. What is Claire's balance after she has paid the \( \$ 1,000 \) ? How much interest will Claire have to pay? How much will Claire have to pay in total? Heflect: Why do you think Claire used a credit card to pay her hospital bill?
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After Claire's payment of \( \$ 1,000 \), her balance will include the remaining amount charged plus the interest. Initially, she charged \( \$ 1,500 \) but paid back \( \$ 1,000 \), leaving her with \( \$ 500 \). The interest on the \( \$ 1,500 \) is \( 30\% \), which amounts to \( \$ 450 \) (\( 0.30 \times 1,500 \)). Thus, her total balance after the payment will be \( \$ 500 + \$ 450 = \$ 950 \). In total, Claire will need to pay \( \$ 1,000 + \$ 450 = \$ 1,450 \) to settle everything. One possible reason Claire opted for a credit card to settle her hospital bill could be her immediate need for treatment or surgery that she wasn't prepared for financially. Credit cards offer a convenient way to manage unforeseen medical expenses, allowing her to receive necessary care right away without waiting to gather funds. Plus, many credit card companies provide the ability to pay over time, which can ease financial stress, especially in emergencies!