Which of the following statements regarding amortization is CORRECT?

Group of answer choices

An amortization schedule provides information regarding the terms of the loan, such as the interest rate and the length of the loan (or maturity); however, it does not provide detailed information that the borrower can use to determine the breakdown of the loan payment into interest and principal repayment

All the above statements are true

An amortized loan is a type of loan that requires regular, fixed payments over the life of the loan with the loan balance decreasing over time

Mortgages, car loans, and student loan are not examples of amortized loans

None of the statements is true

The U.S. government offers to sell you a bond for $400. No payments will be made until the bond matures 20 years from now, at which time it will be redeemed for $1,300. What annual interest rate would you earn if you bought this bond for $400?

Group of answer choices

4.72%

6.32%

6.07%

6.65%

7.35%