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A couple who borrow $80,000 for 20 years at 6%, compounded monthly, must make monthly payments of $573.14. (a)Find their unpaid balance after 1 year.

A couple who borrow $80,000 for 20 years at 6%, compounded monthly, must make monthly payments of $573.14.

(a)Find their unpaid balance after 1 year.

(b)During that first year, how much interest do they pay?

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