Which of the following statements is true of amortization?
A) With an amortized loan, a larger proportion of each month's payment goes toward interest in the early periods.
B) With an amortized loan, a larger proportion of each month's payment goes toward interest in the later periods.
C) With an amortized loan, a smaller proportion of each month's payment goes toward interest in the early periods.
D) With an amortized loan, the interest portion of each month's payment remains unchanged.
Correct Answer:
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