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You would like to buy a boat and know you can afford boat payments of $225 a month for 5 years. The interest rate is

You would like to buy a boat and know you can afford boat payments of $225 a month for 5 years. The interest rate is 7.65 percent, compounded monthly. How much money can you afford to borrow? Question 5 options: $12,407 $10,508 $9,067 $11,189

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