I want to borrow $17,000 to buy a boat. The bank offers me an annual interest rate of 6.00%, compounded monthly, for 2 years.?

Update:

Pretty please help me with my homework <3

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4 Answers

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  • 1 month ago

    lol. No math skills, no job, and thus no boat or boat loan. [Equal monthly payments, or balloon payment??]

  • Anonymous
    1 month ago

    I’ve purchased several cruising boats. The question is a loaded question.   The reality is you shouldn’t be taking a loan at any interest to support a hobby or pastime.  If you can’t buy a boat in full, don’t buy it.   

  • fcas80
    Lv 7
    1 month ago

    I get  P = 753.45

  • Anonymous
    1 month ago

    FFS.   If you're going to ask other people to do your homework, you could least say please.

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