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The last interest payment on a 12-year, 6%, $138 ,000, fully-amortized loan with annual payments will be less than the first interest payment. 1) True

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The last interest payment on a 12-year, 6%, $138 ,000, fully-amortized loan with annual payments will be less than the first interest payment. 1) True 2) False Question 2 (1.2 points) Saved You have a choice among three types of loan and wish to pay the LEAST total cash flows. An amortized loan will result in fewer dollars paid out than a discount or an interest-only loan for the same amount, positive interest rate, and time period. 1) True 2) False Page 1 of 6 Next Page Previous Page

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