Joanne Revis Bought a Home Computer for $1,299 $\frac {\text {1 }} { \text {2 } }$

Short Answer

Joanne Revis bought a home computer for $1,299. She plans to pay $300 per month till the purchase is paid off. Assume there is1 $\frac {\text {1 }} { \text {2 } }$ %
a 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?