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Lucy has just obtained a five-year fixed-rate mortgage to buy her first home. The mortgage is amortized over 30 years. Which of the following statements
Lucy has just obtained a five-year fixed-rate mortgage to buy her first home. The mortgage is amortized over 30 years. Which of the following statements is most correct?
A | Lucys payments wont change for the next 30 years. |
B | Lucys payments wont change for the next 5 years. |
C | Lucys payments will increase as the term of the mortgage increases. |
D | Lucys payments will decrease as the term of the mortgage increases. |
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