A sailboat costs $19,058. You pay 10% down and amortize the rest with equal monthly payments over an 11 year period. If you must pay 6.6% compounded monthly what is your monthly payment? 

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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A sailboat costs $19,058. You pay 10% down and amortize the rest with equal monthly payments over an 11 year period. If you must pay 6.6% compounded monthly what is your monthly payment? 
ou pay
A sailboat costs $17,079. You pay 30% down and amortize the rest with equal monthly payments over a 6-year period. If you must pay
8.7% compounded monthly, what is your monthly payment? How much interest will you pay?
Transcribed Image Text:ou pay A sailboat costs $17,079. You pay 30% down and amortize the rest with equal monthly payments over a 6-year period. If you must pay 8.7% compounded monthly, what is your monthly payment? How much interest will you pay?
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