A couple who borrow $50,000 for 15 years at 6%, compounded monthly, must make monthly payments of $ XXXXXXXXXXRound your answers to the nearest cent.) (a) Find their unpaid balance after 1 year. $ (b)...

A couple who borrow $50,000 for 15 years at 6%, compounded monthly, must make monthly payments of $421.93. (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?

Jun 05, 2022

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