Question: Question 1 (1 point) When you make a lump sum payment on a loan, the entire amount goes towards reducing the balance owing. True False

Question 1 (1 point) When you make a lump sum payment

Question 1 (1 point) When you make a lump sum payment on a loan, the entire amount goes towards reducing the balance owing. True False Question 2 (1 point) Increasing your regular loan payments by 10% will shorten the loan amortization period by: less than 10%. 10% exactly more than 10%. UPM

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When you make a lump sum payment on a loan, the entire amount goes towards reducing the balance owing. True False

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