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A sailboat costs $18,865. You pay 25% down and amortize the rest with equal monthly payments over a 13-year period. If you must pay 8.1%
A sailboat costs $18,865. You pay 25% down and amortize the rest with equal monthly payments over a 13-year period. If you must pay 8.1% compounded monthly, what is your monthly payment? How much interest will you pay? Monthly payments: $____ Interest: $____ (Please square, label, or circle the answer)
Monthly payments: $____
Interest: $____
(Please square, label, or circle the answer)
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
10th Edition
978-0538482387
