Question: Manuel purchased a boat for $2000 down with the balance to be paid by 36 monthly payments of $224.58 including interest at 10% compounded monthly.

Manuel purchased a boat for $2000 down with the balance to be paid by 36 monthly payments of $224.58 including interest at 10% compounded monthly.
a. What was the purchase price of the boat?
b. What is the balance owed just after the ninth payment?

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