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A sailboat costs $20,537. You pay 20% down and amortize the rest with equal monthly payments over a 12-year period. If you must pay 6.9%

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A sailboat costs $20,537. You pay 20% down and amortize the rest with equal monthly payments over a 12-year period. If you must pay 6.9% compounded monthly, what is your monthly payment? How much interest will you pay? Monthly payments: $(Round to two decimal places.)

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