As a fixed-rate, amortized loan is paid off over time... a. all of the principal is paid
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As a fixed-rate, amortized loan is paid off over time...
a. | all of the principal is paid off first, and only then do any payments go toward interest. | |
b. | the amount of each payment that goes toward interest remains the same. | |
c. | more and more of each payment goes toward reducing principal, while less and less goes toward interest. | |
d. | more and more of each payment goes toward interest, while less and less goes toward reducing principal. |
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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