The Jeffersons borrow $156,300 to purchase a new home. They finance the amount through a 25-yr mortgage at an annual interest rate of 9.5%, compounded monthly. Determine the new balance at the end of the second month. Balance Payment New balance Portion of Portion of Payment Payment Applied to Applied to Interest Principal A. $155,886.26 B. $156,171.79 C. $156,042.56 D. $ 155,063.64 Click to select your