MaxxL
MaxxL
27.11.2021 • 
Mathematics

Aston buys a $9,200 motorcycle on a deferred payment plan. There is no down payment and no interest for 24 months. Jerry must make a minimum payment of $75 a month for the first 23 months. To avoid a retroactive rate of 21%, he must pay the balance in full at the end of 24 months. If he pays $75 each month, how much should he pay the last month to avoid the interest charges?

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