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Alex has just obtained a 7-year fixed-rate mortgage to buy her first condo. The mortgage is amortized over 25 years. Which of the following statement

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Alex has just obtained a 7-year fixed-rate mortgage to buy her first condo. The mortgage is amortized over 25 years. Which of the following statement is most correct? a. Alex's payments will not change for the next 25 years. O b. Alex's payments will not change for the next 7 years. Oc Alex's payments will increase as the term of the mortgage increases. od. Alex's payments will increase as the amortization period of the mortgage increases. Oe. Alex's payments will decrease as the term of the mortgage increases

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