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 the first 3 payments of an $87,000 mortgage at 
for 30 years. Find the loan balance after 3 payments.
A. $83,855.24
B. $86,725.08
C. $86,274.99
D. $85,345.15
Answer: B
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