In Australia, most housing mortgages are principal- and- interest loans; that is, they are repaid in a large number of equal payments that include both repayment of principal and the interest charged on the
outstanding balance.

Question

Quizplus · Accepted Answer

In Australia, principal-and-interest loans are common, where borrowers make regular payments that cover both the principal amount and the interest, gradually reducing the loan balance over time.

In Australia, Most Housing Mortgages Are Principal- And- Interest Loans;