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You Have a 30-Year, Fixed-Rate Mortgage with Equal Monthly Payments

Question 96

Multiple Choice

You have a 30-year, fixed-rate mortgage with equal monthly payments. The amount of interest you pay each month will ________ and the amount of principal you pay each month will ________.


A) decrease; decrease
B) decrease; increase
C) increase; decrease
D) increase; increase
E) remain constant; remain constant

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