The finance charge for Mia's purchase is $932.55.
In finance, this finance charge refers to the cost of borrowing money or the interest and fees associated with a financial transaction.
Number of days in a week = 7 days
Number of days in 3 months = 3 months * 30 days/month = 90 days
Mia's delay in days = 7 days
Delay in months = Delay in days / Number of days in a month
= 7 days / 30 days/month
= 0.2333 months
Since the delay is 0.2333 months, it's effectively one month.
Finance Charge = Principal Amount * Monthly Interest Rate
= $4,322 * 21.6%
= $933.552
= $933.55
So, the finance charge for Mia's purchase is $932.55.