Question: Question 5 (3 points) Saved In a typical fixed payment, fully amortizing loan (like a mortgage or auto loan), the amount of interest applied to

Question 5 (3 points) Saved In a typical fixed payment, fully amortizing loan (like a mortgage or auto loan), the amount of interest applied to each successive payment and the amount of principal applied to each successive payment throughout the life of the loan. a) increases; decreases b) is the same; is the same c) decreases; decreases d) decreases; increases Oe) increases; increases Question 6 (3 points) Saved Assume Janice recently bought a new house. Janice took out a mortgage loan for $100,000 to purchase the house. The bank requires monthly payments for next 30 years. Janice's loan rate (APR) is 4.125%, compounded monthly. How much is her monthly payment? a) $277.78 b) $491.94 Oc) $499.29 d) $5.871 10

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