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Mia Lane bought a high-definition television for $8,000. Based on her income, she could afford to pay back only $1000 per month. There is 2%

Mia Lane bought a high-definition television for $8,000. Based on her income, she could afford to pay back only $1000 per month. There is 2% monthly interest charge on the unpaid balance. The U.S. Rule is used in the calculation. At the end of month 4, what is the balance outstanding?

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