Narrative 14-2
For problems in this section, use Table 14-1 from your text to find monthly mortgage payments.
-Refer to Narrative in your text 14-2. You take out a $87,000 mortgage at 6% for 20 years. Prepare an amortization schedule for the first three months. Enter the loan balance after 3 payments as your answer.

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The Answer of Narrative 14-2
For problems in this section, use Table 14-1 from your text to find monthly mortgage payments.
-Refer to Narrative in your text 14-2. You take out a $87,000 mortgage at 6% for 20 years. Prepare an amortization schedule for the first three months. Enter the loan balance after 3 payments as your answer.

Narrative 14-2 For Problems in This Section, Use Table 14-1 from Your