A sailboat costs $35,000. You pay 20% down and amortize the rest with equal monthly payments over
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A sailboat costs $35,000. You pay 20% down and amortize the rest with equal monthly payments over a 12-year period. If you must pay 8.75% compounded monthly, what is your monthly payment? How much interest will you pay?
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Related Book For 
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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