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1. Which of the following statements is true of an amortized loan? a) The interest payment each month is always the same amount. b) The
1. Which of the following statements is true of an amortized loan? a) The interest payment each month is always the same amount. b) The principal payment each month is always the same amount. c) The interest payment declines each month while the principal payment increases each month. d) The interest payment increases each month while the principal payment declines each month. e) None of the above statements are true.
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