$5M sailbote sinks! (and gets raised...)
 

Looks like Dennis Conner built this one a little too light...


http://espn.go.com/moresports/news/2...3/1409251.html

Yup they build those boats on the edge!!! They are amazing to go for a ride on. If you EVER get the chance I highly recommend it. I have been on a few and they are amazing to say the leaste. The newzealand boat went down because they broke a drum for trimming the jib and went to the other side to make it all work. Well the engineers never factored that load into the boat and it broke in half and sank in about 15 seconds!!!:eek: :eek: Watch the motor boats that they have chasing them when they run. The motor boats are on plane to keep up. :D:D

Jon

Thats what i need.
A back-up boat :rolleyes:

Damn Jon.....You said jib :eek: :eek:

Have you just been using the formula project as a front, and been out on your blowboat every weekend??? :p :D

I admit it I sail as well. My brother is on the Olypic sailing team and ranked about 3rd or 4th in the country. Sailing can be fun and they do not break as much. HOWEVER before you guys all come and hang me from the nearest tree there is no doubt in my mind that Offshore power boats is were it is at :D:D

Jon

CYA
 

HAH!!! Now that's what I call COVERING YOUR ASS bigtime!!!:D :p

Check this out the Speed record for sail is climbing

http://www.mko.freesurf.fr/innovoile/YPE_e.html

Best Regards:)

Steve1: Windsurfers have WAY eclipsed that speed a long time ago :D:D I have been radared at 64.8mph on mine. That is 4mph faster then my formula on a board that is only 7 feet long and about 13" wide :D:D

Jon

So what?
 

There's no place on a sailboard for a beer cooler.:p

Here's the numbers I got;
processing................$350
apprasal....................$310
title ins.................... $2083
origination..0.5%......$1725
underwriting fee.........$495
at home closingfee....$225 total=$5388.

for $345,000 at 5.66% fixed over 30y = $1993/mo but this gets paid biweekly so half = $996.50/2 weeks. Paid off in 24 years.

That means $996.50 X 26payments/yr= $25,909/yr X 24yr = $621,816 total payments.

I don't have a financial calculator but can someone plug in for me:
$2159.08/mo payment, 24yr term, $350,388 principal amount
= ? interest rate.
This is my real interest rate including all the costs.
Thanks, I need to go replace my broken financial calculator.