Assume you are making $989 monthly payments on your amortized mortgage. The amount of each payment that is applied to the principal balance:________. a. Decreases with each succeeding payment. b. Increases

Assume you are making $989 monthly payments on your amortized mortgage. The amount of each payment that is applied to the principal balance:________.

a. Decreases with each succeeding payment.

b. Increases with each succeeding payment.

c. Is constant throughout the loan term.

d. Fluctuates monthly with changes in market interest rates

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Assume you are making $989 monthly payments on your amortized mortgage. The amount of each payment that is applied to the principal balance:________. a. Decreases with each succe…

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