Which of the following statements is TRUE for any mortgage?

a. The monthly payments will decline over time.

b. When amortizing a mortgage, the 1st mortgage payment and 360th mortgage payment have the same interest amount with regards to amortizing the loan.

c. A smaller proportion of the last monthly payment will be interest, and a larger proportion will be principal, than for the first monthly payment.

d. The total dollar amount of principal being paid off each month gets smaller as the loan approaches maturity.

e. The amount representing interest in the first payment would be higher if the nominal interest rate were 6% rather than 10%.