Question: A sailboat costs $ 1 8 , 4 2 2 . You pay 1 0 % down and amortize the rest with equal monthly payments

A sailboat costs
$18,422.
You pay
10%
down and amortize the rest with equal monthly payments over a
12-year
period. If you must pay
7.8%
compounded monthly, what is your monthly payment? How much interest will you pay

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