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Given a fully amortized mortgage, which of the following is true? A higher interest rate results in lower periodic payments. A longer term results in
Given a fully amortized mortgage, which of the following is true?
A higher interest rate results in lower periodic payments. | ||
A longer term results in larger periodic payments. | ||
As the loan term increases, the amortization rate decreases. | ||
Higher interest rates result in higher amortization rates. |
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