A young executive is going to purchase a vacation property for investment purposes. She needs to borrow
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Question:
A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $79,000.00 for 27 years at 5.2% compounded monthly and will make monthly payments of $454.24. (Round all answers to 2 decimal places.)
What is the unpaid balance after 14 months? $
During this time period, how much interest did she pay? $
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