Question: For normal interest rates (i.e., greater than zero), roughly how much of the original balance of an amortizing mortgage is paid off after half of
For normal interest rates (i.e., greater than zero), roughly how much of the original balance of an amortizing mortgage is paid off after half of the payments have been made?
a. Less than half
b. None of it, that is what it means to be an amortizing loan
c. More than half if rates are low, less than half if rates are high
d. More than half
e. About half
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