Question: A sailboat costs $ 2 3 , 0 2 6 . You pay 5 % down and amortize the rest with equal monthly payments over

A sailboat costs $23,026. You pay 5% down and amortize the rest with equal
monthly payments over a 9-year period. If you must pay 8.1%
compounded monthly, what is your monthly payment? How much interest will
you pay?
A sailboat costs $23,026. You pay 5% down and amortize the

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