A loan has a five-year amortization period. If the interest rate is fixed, will the interest paid in the 4^th year be (pick one): (i) more than (ii) less than or (iii) equal to the interest paid in the second year? Explain.

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The Answer of A loan has a five-year amortization period. If the interest rate is fixed, will the interest paid in the 4^th year be (pick one): (i) more than (ii) less than or (iii) equal to the interest paid in the second year? Explain.

A Loan Has a Five-Year Amortization Period