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A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $108,000.00 for 27 years at 4.6% compounded monthly,
A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $108,000.00 for 27 years at 4.6% compounded monthly, and will make monthly payments of $582.68. (Round all answers to 2 decimal places.) What is the unpaid balance after 12 months? $ During this time period, how much interest did she pay? $
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