Solution-Problem regarding the monthly payment

Problem regarding the monthly payment

Reference no: EM131193825

A sailboat costs $18,053. You pay 25% down and amortize the rest with equal monthly payments over a 10 year period. If you must pay 6.9% compounded monthly, what is your monthly payment? How much interest will you pay?

Monthly payments $______ Round to two decimal places.

Reference no: EM131193825

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Problem regarding the monthly payment : A sailboat costs $18,053. You pay 25% down and amortize the rest with equal monthly payments over a 10 year period. If you must pay 6.9% compounded monthly, what is your monthly payment? How much interest will you pay?

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Problem regarding the monthly payment

Reference no: EM131193825

Reference no: EM131193825

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