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If You saved $1,500 to buy a fishing boat and can budget $525 per month to repay a loan. If he used a $1,500 savings

If You saved $1,500 to buy a fishing boat and can budget $525 per month to repay a loan. If he used a $1,500 savings for a down payment and get a 5 year loan at 2% APR compounded monthly with $550 monthly payments beginning 1 month from today, how much can you pay for the boat?

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