When a loan is amortized over a five-year term, the ____.
A) rate of interest is reduced each year
B) amount of interest paid is reduced each year
C) payment is reduced each year
D) balance is paid as a balloon payment in the fifth year

Name: When a loan is amortized over a five-year term, the ____. A) rate of interest is reduced each year B) amount of interest paid is reduced each year C) payment is reduced each year D) balance is paid as a balloon payment in the fifth year
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The Answer is B

When a Loan Is Amortized Over a Five-Year Term, the ____