Manuel purchased a boat for $2,000 down with the balance to be paid by 36 monthly payments of $224.58 including interest at 10% compounded monthly.
a) What was the purchase price of the boat?
b) What is the balance owed just after the ninth payment?

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The Answer of Manuel purchased a boat for $2,000 down with the balance to be paid by 36 monthly payments of $224.58 including interest at 10% compounded monthly.
a) What was the purchase price of the boat?
b) What is the balance owed just after the ninth payment?

Manuel Purchased a Boat for $2,000 Down with the Balance