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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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