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Sheila purchased ski equipment for $513 using a six-month deferred payment plan. The interest rate after the introductory period is 18.39%. A down payment of
Sheila purchased ski equipment for $513 using a six-month deferred payment plan. The interest rate after the introductory period is 18.39%. A down payment of $125 is required as well as a minimum monthly payment of $65. 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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