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A sailboat costs $31,570. You pay 20% down and amortize the rest with equal monthly payments over a 15-year period. If you must pay 7.2%

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A sailboat costs $31,570. You pay 20% down and amortize the rest with equal monthly payments over a 15-year period. If you must pay 7.2% compounded monthly, what is your monthly payment? How much interest will you pay? Monthly payments: 8 (Round to two decimal places.)

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