[Solved] A sailboat costs $ 2 4 , 5 5 8 . You pay

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A sailboat costs $ 2 4 , 5 5 8 . You pay 1 5 % down and amortize the rest with equal monthly payments

A sailboat costs $

24, 558 .

You pay

15 %

down and amortize the rest with equal monthly payments over a

11 -

year period. If you must pay

6.6 %

compounded

monthly, what is your monthly

payment? How much interest will you

pay?

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