Question: You purchase a boat for $35,000 and pay a $5,000 deposit and agree to pay the rest over the next 10 years in 10 equal

You purchase a boat for $35,000 and pay a $5,000 deposit and agree to pay the rest over the next 10 years in 10 equal annual payments that include principal payments plus 13% compound interest on the unpaid balance. What will be the amount of each payment?

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