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A sailboat costs $25,683. You pay 5% down and amortize the rest with equal monthly payments over a 12-year period. If you must pay 8.4%

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A sailboat costs $25,683. You pay 5% down and amortize the rest with equal monthly payments over a 12-year period. If you must pay 8.4% compounded monthly, what is your monthly payment? How much interest will you pay? Monthly payments: $ (Round to two decimal places.) Interest: $ (Round to two decimal places.)

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