Question: Please answer quickly!!! A sailboat costs $28,035. You pay 10% down and amortize the rest with equal monthly payments over a 12-year period. If you

Please answer quickly!!! A sailboat costs $28,035. You pay 10% down and amortize the rest with equal monthly payments over a 12-year period. If you must pay 8.4% compounded monthly, what is your monthly payment? How much interest will you pay?

Monthly payments: $____

Interest: $____

Please do not round any numbers.

(Please square, label, or circle the answer)

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