Narrative 14-1For problems in this section, use Table 14-1 from your text to find the monthly mortgage payments, when necessary.
 
Refer to Narrative 14-1. Prepare an amortization schedule for Betty after the first payment of a $55,000 mortgage at for 30 years. Find the loan balance after the first payment.

A. $54,972.87
B. $54,855.79
C. $54,782.92
D. $54,390.60


Answer: A

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