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A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $89,000.00 for 25 years at 5.9% compounded monthly,
A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $89,000.00 for 25 years at 5.9% compounded monthly, and will make monthly payments of $568.00. (Round all answers to 2 decimal places.) a) What is the unpaid balance after 10 months? $ b) During this time period, how much interest did she pay? $
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