Which of the following statements regarding a 30-year, $100,000 mortgage with a nominal interest rate of 10%, compounded monthly, is NOT CORRECT?

Over 90% of the first payment goes toward interest. The total dollar amount of principal being paid off each month gets larger as the loan approaches maturity. The proportion of the monthly payment that represents interest will be lower for the last payment than for the first payment on the loan. The dollar amounts towards interest and principle changes every time a payment is made. The amount towards principle increases and the amount towards interest decreases. The monthly payments will decline over time.