Mortgage payments

Suppose Mr$.$ and Mrs$.$ Wong want to purchase a home for $$350,000.$ They are prepared to put $$70,000$ down and borrow the rest.

The Wongs know that, ceteris paribus, the amount of each mortgage payment will

if loan amount decreases.

The Wongs should also know that if they sold the house in just a few years, they will see that their mortgage balance has