The total cost of the boat if Jacob makes all of his payments on time is $10,300
The total cost of the boat is the sum of the total amounts paid less the amount refunded for swift payment
Total amount paid = $800 + ($275 x 36) =
$800 + $9900 = $10,700
Amount refunded = 400
Total cost = $10,700 - $400 = $10,300
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