By completing the first two months of the amortization schedule for the following fixed rate mortgage, determine the balance of principal at the end of the second month.
Mortgage: $153,800
Interest rate: 9.5%
Term of loan: 25 years 
You will need the following table of monthly payments: 
A) $152,583.41
B) $153,392.88
C) $153,673.84
D) $153,546.68
Correct Answer:
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