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A couple who borrow $80,000 for 30 years at 7.2%, compounded monthly, must make monthly payments of $543.03. (Round your answers to the nearest cent.)

A couple who borrow $80,000 for 30 years at 7.2%, compounded monthly, must make monthly payments of $543.03. (Round your answers to the nearest cent.)

(a) Find their unpaid balance after 1 year. $ (b) During that first year, how much interest do they pay? $

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