A $150 bicycle was purchased on December 1 witha $15 down
Chapter , Problem 4-38(choose chapter or problem)
A $150 bicycle was purchased on December 1 witha $15 down payment. The balance is to be paid atthe rate of $10 at the end of each month, with thefirst payment due on December 31. The last paymentmay be some amount less than $10. If interest on theunpaid balance is computed at 11/2% per month, howmany payments will there be, and what is the amountof the final payment?
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