Payments on installment notes include accrued interest plus a portion of the amount borrowed (principal).

Name: Payments on installment notes include accrued interest plus a portion of the amount borrowed (principal).
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This statement is true. Installment payments on a loan include both accrued interest (which is calculated as a percentage of the remaining principal balance) and a portion of the principal amount borrowed. This allows the borrower to gradually pay off the loan over time.

Payments on Installment Notes Include Accrued Interest Plus a Portion