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A sailboat costs $20,728. You pay 15% down and amortize the rest with equal monthly payments over a 10-year period. If you must pay 8.4%

A sailboat costs $20,728. You pay 15% down and amortize the rest with equal monthly payments over a 10-year period. If you must pay 8.4% compounded monthly, what is your monthly payment? How much interest will you pay?

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