Marika Katz Bought a $7,000 Computer $\frac {\text {1 }} { \text {2 } }$

Short Answer

Marika Katz bought a $7,000 computer. Based on her income, Marika could afford to pay back only $700 per month. The charge on the unpaid balance is1 $\frac {\text {1 }} { \text {2 } }$ % . The U.S. Rule is used in the calculation. Calculate the balance outstanding after the second month.