As payments are made, the amount of interest taken from a mortgage loan payment decreases and the amount applied to the principal increases. This is because of
A) appreciation.
B) variable interest rate.
C) amortization.
D) depreciation.

Question

Quizplus · Accepted Answer

Amortization causes the amount of interest taken from a mortgage loan payment to decrease and the amount applied to the principal to increase.

As Payments Are Made, the Amount of Interest Taken from a Mortgage