How much interest will you pay

Reference no: EM132075957

Question: A sailboat costs $24, 574. You pay 10% down and amortize the rest with equal monthly payments over a 9-year period. If you must pay 7.8% compounded monthly, what is your monthly payment? How much interest will you pay? Monthly payments: $ (Round to two decimal places.) Interest: $ (Round to two decimal places)

Reference no: EM132075957

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How much interest will you pay : A sailboat costs $24, 574. You pay 10% down and amortize the rest with equal monthly payments over a 9-year period. If you must pay 7.8% compounded monthly.

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