Assume you are making 989 monthly payments on your, Financial Management

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Assume you are making 989 monthly payments on your

Assume you are making $989 monthly payments on your amortized mortgage. The amount of each payment that is applied to the principal balance:

is constant throughout the loan term.

increases with each succeeding payment.

decreases with each succeeding payment.

fluctuates monthly with changes in market interest rates.

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