Question: A loan has a five-year amortization period. If the interest rate is fixed, will the interest paid in the fourth year be (pick one): (i)

A loan has a five-year amortization period. If the interest rate is fixed, will the interest paid in the fourth year be (pick one):
(i) More than
(ii) Less than or
(iii) Equal to the interest paid in the second year? Explain.

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