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  • 3 years ago

Shelby purchased ski equipment $827 using a six-month deferred payment plan. The interest rate after the introductory period is 13.87%. A down payment of $190 is required as well as a minimum monthly payment of $85. What is the balance at the beginning of the seventh month if only the minimum payment is made during the introductory period?

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  1. lswimstar
    • 3 years ago
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    a) $682.47 b) $172.47 c) $597.47 d) $186.04

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