Solve the problem.The Jeffersons borrow $152,400 to purchase a new home. They finance the amount through a 25-yr mortgage at an annual interest rate of 9.5%, compounded monthly. Determine the new balance at the end of the second month.

A. $151,996.58
B. $151,194.49
C. $152,274.99
D. $152,148.98


Answer: D

Mathematics

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Mathematics

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A.
B.
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E.

Mathematics