Question: Question 21 (4 points) When fully amortizing loans call for equal periodic payments over the life of the loan they are known as (Multiple Choice)

Question 21 (4 points) When fully amortizing loans call for equal

Question 21 (4 points) When fully amortizing loans call for equal periodic payments over the life of the loan they are known as (Multiple Choice) interest-only mortgages. early-payment mortgages. adjustable-rate mortgages. level-payment mortgages. Question 22 (4 points) Since mortgages typically have multiple costs associated with them, a borrower may attempt to reduce these costs into a single measure in order to compare two or more mortgages. An annual percentage rate (APR) is a popular tool for comparing the cost of several mortgages. (True/False) True False

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