What is the balance outstanding at the end of month one


Problem

Music and art education should both take an open-ended, integrated path in early childhood programs.

Mia Lane bought a high-definition television for $7,500. Based on her income, she could afford to pay back only $600 per month. There is 2% monthly interest charge on the unpaid balance or 24% per year. The U.S. Rule is used in the calculation. At the end of month 1, the balance outstanding is: Group of answer choices $6,012.50 None of these $6,912 $7,050 $6,900.

The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.

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Finance Basics: What is the balance outstanding at the end of month one
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