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Jem bought a home computer for $1,299. He plans to pay $300 per month till the purchase is paid off. ...

Jem bought a home computer for $1,299. He plans to pay $300 per month till the purchase is paid off. Assume there is a 1½% interest charge on the unpaid balance and the U.S. Rule is used. What is the outstanding balance due at the end of the first month?

Note: Round your answer to the nearest cent.

Textbook

Math for Business and Finance: an Algebraic Approach

Edition: 3^rd

Author: Slater

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