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A sailboat costs $ 2 1 , 5 7 6 . You pay 2 0 % down and amortize the rest with equal monthly payments

A sailboat costs $

21, 576 .

You pay

20 %

down and amortize the rest with equal monthly payments over a

10 -

year period. If you must pay

8.1 %

compounded monthly, what is your monthly payment? How much interest will you pay?Monthly payments: $

(

Round to two decimal places.

)

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