The First Interest Payment on a 5-Year,8%,$100,000,fully-Amortized Loan with Annual

question 117

True/False

The first interest payment on a 5-year,8%,$100,000,fully-amortized loan with annual payments will be less than the last interest payment.

---

Definitions:

Dental Hygiene

The practice of keeping one’s mouth clean and free of disease and other problems by regular brushing and cleaning between the teeth.

True Obedience

The genuine compliance with commands or demands from an authority figure, often studied in the context of social psychology.

Compliance

The act of agreeing with or obeying a request, command, or set of standards.

Reference Groups

Social groups that individuals compare themselves to for the purpose of evaluating their own behaviors, attitudes, and beliefs.