To find the monthly payment amount, we can set up the following equation:
\[ m = \frac{624 - 66}{12} \]
Here, \(m\) represents the monthly payment, $624 is the total yearly membership cost, and $66 is the registration fee. The remaining amount is divided by the 12 months.
Now we can calculate the monthly payment amount:
-
Subtract the registration fee from the total cost: \[ 624 - 66 = 558 \]
-
Divide the result by 12: \[ \frac{558}{12} = 46.5 \]
Therefore, the monthly payment amount is $46.50.