Question: ture or flase question if the statement is false, please correct it 5: PMT in the PVA formula tells us the periodic mortgage payment for

ture or flase question

if the statement is false, please correct it

5: PMT in the PVA formula tells us the periodic mortgage payment for a fixed-rate fully amortized loan.

6: The principal part of a fixed mortgage loan payment can be found by multiplying the periodic interest rate by ending balance for a given period.

7: For fixed-rate fully amortized mortgage loans, more of the fixed payment goes towards principal as we approach the end of the loan term.

8: We can find the amount needed to pay off a fixed-rate fully amortized mortgage loan at any point in time by solving for the PV of the remaining payments.

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