The fishing boat you want to buy costs $ 1 6 7 , 8 0 0 .

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Question:

The fishing boat you want to buy costs $

167, 800 .

You plan to make a cash down payment of

10

percent and finance the balance over

20

years at

7.25

percent compounded monthly. What will be the amount of your monthly boat loan payment?

Related Book For answer-question

Fundamentals of Financial Management

ISBN: 978-0324664553

Concise 6th Edition

Authors: Eugene F. Brigham, Joel F. Houston

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Posted Date: Mar 18, 2024 07:08 AM

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The fishing boat you want to buy costs $ 1 6 7 , 8 0 0 .

Question:

Expert Answer:

The monthly payment for your boat loan will be 119363 Heres how we can calculate it Loan amount Well ... View the full answer

Fundamentals of Financial Management

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