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Question 20 (1 point) Which of the following statements is TRUE if you increase your monthly payment above the required loan payment? You can significantly

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Question 20 (1 point) Which of the following statements is TRUE if you increase your monthly payment above the required loan payment? You can significantly increase the number of payments needed to pay off the loan. The extra portion of the payment is applied to interest. The extra payment is placed in a separate savings account and earns a nominal rate of interest The extra portion of the payment decreases the principal balance

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