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. Mike and Dianne Perez are financing a $120,000 mortgage at $10 \frac { 1 } { 4 } \%$ for 25 years. Their monthly payments for principal and interest are $1,112.40. After making 3 payments, what is the amount of their loan balance?

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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. Mike and Dianne Perez are financing a $120,000 mortgage at $10 \frac { 1 } { 4 } \%$ for 25 years. Their monthly payments for principal and interest are $1,112.40. After making 3 payments, what is the amount of their loan balance?

Narrative 14-2 for Problems in This Section, Use Table 14-1 1014%10 \frac { 1 } { 4 } \%1041​%

Narrative 14-2
for Problems in This Section, Use Table 14-1 $10 \frac { 1 } { 4 } \%$