Payments under a fully amortized loan payment plan decline each month.

Name: Payments under a fully amortized loan payment plan decline each month.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Payments under a fully amortized loan payment plan remain the same each month. The amount of each payment is calculated to fully pay off the loan by the end of the loan term, so the payment consists of both principal and interest and does not change over time.

Payments Under a Fully Amortized Loan Payment Plan Decline Each