Mathematics, 07.10.2020 06:01 jetblackcap

Shelby purchased ski equipment for $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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Shelby purchased ski equipment for $827 using a six-month deferred payment plan. The interest rate a...