Question
A sailboat costs $25,157. You pay 5% down and amortize the rest with equal monthly payments over a 11 -year period. If you must pay
A sailboat costs $25,157. You pay 5% down and amortize the rest with equal monthly payments over a 11-year period. If you must pay 8.4% compoundedmonthly, what is your monthlypayment? How much interest will youpay?
Monthlypayments: $_____
(Round to two decimalplaces.)
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Discrete Mathematics and Its Applications
Authors: Kenneth H. Rosen
7th edition
0073383090, 978-0073383095
