Which of the following statements regarding a $20-$year $(240-$month$)$ $$225,000,$ fixed$-$rate mortgage is CORRECT?

$($Ignore taxes and transactions costs.$)$

Oa$.$ Because it is a fixed$-$rate mortgage, the monthly loan payments $($which include both interest and

principal payments$)$ are constant.

Ob$.$ Interest payments on the mortgage will increase steadily over time, but the total amount of each payment

will remain constant.

Oc$.$ The outstanding balance declines at a slower rate in the later years of the loan's life.

Od$.$ The proportion of the monthly payment that goes towards repayment of principal will be lower $10$ years

from now than it will be the first year.

Oe$.$ The remaining balance after three years will be $$225,000$ less one third of the interest paid during the

first three years.