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Why is there more interest paid at the beginning of a loan than at the end? a . Banks want to recoup at the beginning
Why is there more interest paid at the beginning of a loan than at the end?
a Banks want to recoup at the beginning the money they loaned.
b Interest is carried over each month and recalculated, thus increasing the percentage.
c At the beginning of the loan, the principal balance is larger than it is at the end.
d The interest percentage rate drops throughout the life of the loan.
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