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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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