In a fixed-rate, amortizing loan such as a fixed-rate mortgage: the loan is paid back with interest only payments each month and then all of the principal is paid in one balance at the end of the life of the loan. the amount of interest paid to the bank increases each month. the amount of principal repaid (to pay down the loan) increases each month. the loan balance increases each month. QUESTION 21 The duration of a 30 year bond is likely to be close to 30 years (meaning the duration and maturity are approximately the same), for a coupon paying bond. (thnk about the time value of money). True False