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Which of the following statements is correct? Multiple Choice 1 With each subsequent payment on an installment note, the amount of interest expense decreases. 2
Which of the following statements is correct?
Multiple Choice
1 With each subsequent payment on an installment note, the amount of interest expense decreases.
2 With each subsequent payment on an installment note, the amount of the principal paid decreases.
3 With each subsequent payment on an installment note, the amount of the principal paid remains unchanged.
4 With each subsequent payment on an installment note, the amount of interest expense increases.
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