Which one of the following statements applies to an amortized loan: Multiple Choice O requires the principal amount to be repaid in equal increments over the life of the loan. requires that all payments be equal in amount and include both principal and interest. repays both the principal and the interest in one lump sum at the end of the loan term. requires that all interest be repaid on a monthly basis while the principal is repaid at and lanta O requires the principal amount to be repaid in equal increments over the life of the loan. O requires that all payments be equal in amount and include both principal and interest. repays both the principal and the interest in one lump sum at the end of the loan term. requires that all interest be repaid on a monthly basis while the principal is repaid at the end of the loan term. O may have equal or increasing amounts applied to the principal from each loan payment