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A sailboat costs $27,448 . You pay 25% down and amortize the rest with equal monthly payments over a 8-year period. If you must pay

A sailboat costs

$27,448

. You pay

25%

down and amortize the rest with equal monthly payments over a 8-year period. If you must pay

7.2%

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.)

image text in transcribed

A sailboat costs $27,448. You pay 25% down and amortize the rest with equal monthly payments over a 8 -year period. If you must pay 7.2% compounded monthly, what is your monthly payment? How much interest will you pay? Monthly payments: S (Round to two decimal places.) Interest $ (Round to two decimal places.)

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