You want to purchase a boat that costs 40000 you want to, Ask an Expert

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You want to purchase a boat that costs $40,000. You want to finance as much of the purchase as possible with a 5-year bank loan at 12% compounded monthly, but can only afford loan payments of $750 per month. How much will you need as a down payment to buy the boat? (Round to the nearest dollar)

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Financial Management, Finance

Category:- Financial Management
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