The Payment Made Each Period on an Amortized Loan Is

question 11

True/False

The payment made each period on an amortized loan is constant, and it consists of some interest and some principal.The closer we are to the end of the loan's life, the smaller the percentage of the payment that will be a repayment of principal.

---

Definitions:

Perceptual Process

The sequence of steps that begins with stimuli in the environment and ends with our interpretation of those stimuli.

Perceptual Process

The sequence of steps that includes receiving, selecting, organizing, interpreting, and responding to sensory information from the environment.

Organization

An arranged group of individuals with a particular purpose, such as a business or governmental agency.

Interpretation

The process of explaining or understanding the meaning of something, such as a piece of data, event, or statement.