12) Which of the following statements regarding a 30-year (360-month) $100,000 fixed-rate mortgage is CORRECT? (Ignore all taxes and transactions costs.) Group of answer choices

Because it is a fixed rate mortgage, the amount paid in interest per payment is constant.

The monthly payment on the mortgage will steadily decline over time.

The remaining balance after three years will be $100,000 less the total amount of principal paid during the first 36 months.

With an amortized loan, a bigger proportion of each month's payment goes toward interest in the later periods.