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 2 payments of a $97,000 mortgage at
for 20 years. Find the loan balance after 2 payments.
A. $96,696.87
B. $96,727.92
C. $96,454.98
D. $96,849.50
Answer: C
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