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What is the balance at the beginning

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Question - Hannah purchased a jet ski for $1,674 using a 12-month deferment plan. The Interest rate is 23.37%. A down payment of $375 is required as well as a minimum monthly payment of $53. What is the balance at the beginning of the 13th month if only the minimum payment is made during the introductory period?

Reference no: EM132956150

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