Question: Please select the False statement for an amortized loan: It is a type of loan that requires the borrower to make scheduled, periodic, flat payments.

Please select the False statement for an amortized loan:

It is a type of loan that requires the borrower to make scheduled, periodic, flat payments.

The portion of the payment that goes towards interest increases over time.

The portion of the payment that goes towards the principal increases over time.

The ending balance of a period is the beginning balance minus the payment made to the principal in that year

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