Narrative 14-1 For Problems in This Section, Use Table 14-1 from Your

Narrative 14-1
For problems in this section, use Table 14-1 from your text to find the monthly mortgage payments, when necessary.
-Refer to Narrative in your text 14-1. Garrison takes out a $62,500 mortgage at 6% for 15 years. Prepare an amortization schedule for the first 3 months. Find the loan balance after 3 payments.

A) $61,851.77
B) $61,872.89
C) $61,936.76
D) $62,003.24