A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $120,000.00 for 26 years at 4.7% compounded monthly, and will make monthly payments of $...

A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $120,000.00 for 26 years at 4.7% compounded monthly, and will make monthly payments of $666.99. If needed, round to 2 decimal places.


a) What is the unpaid balance after 12 months? $



b) During this time period, how much interest did she pay? $