Which of the following statements regarding a 15-year $225,000, fixed-rate mortgage is correct?
a. the outstanding balance declines at a faster rate in the later years of the loan's life.
b. the remaining balance after three years will be $125,000 less one third of the interest paid during the first three years.
c. because the outstanding balance declines over time, the monthly payments will also decline over time.
d. interest payments on the mortgage will increase steadily over time, but the total amount of each payment will remain constant.
e. the proportion of the monthly payment that goes towards repayment of principal will be lower 10 years from now than it will be the first year.

A

Explanation:

The outstanding balance declines at a faster rate in the later years of the loan's life

this conflict is person vs. society

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hope this ! < 3

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know