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You take out a typical installment loan (for example a 30-year mortgage or 5-year car loan). Payments are to be made at the end of
You take out a typical installment loan (for example a 30-year mortgage or 5-year car loan). Payments are to be made at the end of each month. Which of the following statements is true about the loan? A. The amount of principal paid off each month will decrease as time passes B. The payments will decrease as time passes c. The interest paid each month will decrease as time passes explain or show why the correct answer is correct AND why the other answers are not correct. The correct answer is C I just need an explanation on why
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