Which of the following statements is not true about mortgages? O The ending balance of an amortized loan contract will be zero. O If the payment is less than the interest due, the ending balance of the loan will decrease. Mortgages are examples of amortized loans. O Every payment made toward an amortized loan consists of two parts-interest and repayment of principal.
Which of the following statements is not true about mortgages? O The ending balance of an amortized loan contract will be zero. O If the payment is less than the interest due, the ending balance of the loan will decrease. Mortgages are examples of amortized loans. O Every payment made toward an amortized loan consists of two parts-interest and repayment of principal.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Which of the following statements is not true about mortgages?
O The ending balance of an amortized loan contract will be zero.
O If the payment is less than the interest due, the ending balance of the loan will decrease.
Mortgages are examples of amortized loans.
O Every payment made toward an amortized loan consists of two parts-interest and repayment of principal.
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