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Why does the amount of interest you owe decrease every month?

Why does the amount of interest you owe decrease every month?
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7 votes
Why does the amount of interest you owe decrease every month?

User Josnidhin
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2 Answers

6 votes

Answer:the overall balance decreases

Explanation: because you have to pay less interest over time because you are paying money to them

User Understanding
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8.9k points
3 votes

Answer:

The outstanding principle is less

Step-by-step explanation:

User Eugenekr
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