Question: Which statement is correct regarding amortized loans with equal payments? Multiple Choice The principal portion of each payment will decrease over time. If the borrower

Which statement is correct regarding amortized loans with equal payments?
Multiple Choice
The principal portion of each payment will decrease over time.
If the borrower pays more than the scheduled amount, the additional payment will increase the remaining principal balance.
If the borrower pays more than the scheduled amount, the additional payment will reduce the total interest paid over the life of the loan.
The final loan payment will be applied in its entirety to the outstanding principal balance.

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