Craig bought a new boat. He made a 19% down payment. He financed the rest through his bank for 3 years. His bank charged 5% per year compounded monthly and his monthly payments were $300. What was the original price of the boat?

On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?