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Compare the purchase of a boat, using annual vs monthly payments. The boat costs $50,000. The...

Compare the purchase of a boat, using annual vs monthly payments. The boat costs $50,000. The interest rate is 12%. The loan is for 5 years. You sell it in either case for $20,000. Define the life cycle cost of the boat purchase and the annual outlay for payments under each scenario. PLEASE INCLUDE A CASH FLOW DIAGRAM or I will not rate. Thank you!

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