Cherry hospital is opening a new clinic in Cherry City on November 1st. Based on its old clinic in Banana City, its finance department estimates; the ACE for Cherry hospital is 25 days. The hospital's daily billing is $800. They will be able to borrow money from Cherry Bank at 4.5% interest rate. 1. Estimate the amount of billing outstanding (or how much they need to borrow from the bank) before they collet start the business.

2.Given the interest rate, calculate the monthly cost of financing.

please help step by step