John Sullivan bought a new Brunswick boat for $17,000
5. John Sullivan bought a new Brunswick boat for $17,000. He made a $2,500 down payment on it. The
bank’s loan was for 60 months, and the finance charges totaled $4,900. What is his monthly payment?
6. At the beginning of each year, Bill Ross invests $1,400 semiannually at 8% for nine years. Using the
tables in the Business Math Handbook that accompanies the course textbook, determine the cash value of
the annuity due at the end of the ninth year.
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