Question

For a long-term home loan, such as 30 years, the amount of principle you pay on your loan during the first few years is quite small. True or False

Answer 1

For a long-term home loan, such as 30 years, the amount of principal you pay on your loan during the first few years is quite small.

Step-by-step explanation:

True, for a long-term home loan such as 30 years, the amount of principal you pay on your loan during the first few years is quite small.

This is because the loan is spread out over a long period of time, and the monthly payments are calculated in such a way that a larger portion goes towards the interest rather than the principal.