Question: You decide to start a new business and need to take out a business loan for $103,000.00 for 29 years at 4.2% compounded monthly, and

You decide to start a new business and need to take

You decide to start a new business and need to take out a business loan for $103,000.00 for 29 years at 4.2% compounded monthly, and will make monthly. A) What is your unpaid balance after 10 months? Answer = $ (Round to the nearest cent/penny) B) During that time period, how much interest will you pay? Answer = $ (Round to the nearest cent/penny)

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