As Time Increases for an Amortized Loan,the ________ Decreases

question 47

Multiple Choice

As time increases for an amortized loan,the ________ decreases.

• A)interest paid per payment
• B)principal paid per payment
• C)the outstanding loan balance
• D)both A and C

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Definitions:

Plaintiff

The person or party who initiates a lawsuit against another in a court of law.

Defendant

A person, business, or organization being charged or sued in a legal court.

Monetary Compensation

Monetary compensation is financial payment received by an individual or group for services rendered, losses incurred, or as a reward for performance.

Service of Process

The procedure by which a party to a legal action gives an appropriate notice of initial legal action to another party (such as a defendant), court, or administrative body.