Which statement accurately describes the relationship between interest, payments, and amortization?
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With a typical fixed-rate mortgage amortization table, your house payments are higher at the beginning of the loan because you owe more in interest then. As you pay down the interest, your payment size decreases.
With a typical fixed-rate mortgage amortization table, your house payments stay the same throughout the loan. As you pay down the loan, less goes towards interest and more towards the principle.
With a typical fixed-rate mortgage amortization table, your house payments are higher at the beginning of the loan because you have a higher interest rate then. As you pay down the interest, your payment size decreases.
With a typical fixed-rate mortgage amortization table, your house payments stay the same throughout the loan. As you pay down the loan, your interest rate and payment amount decreases.
Answers: 1
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Which statement accurately describes the relationship between interest, payments, and amortization?<...
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