Question

Which of these statements is most accurate regarding mortgage payments through the life of your loan?

a.
At the beginning of your loan, your payments are covering mostly interest. At the end of your loan, your payments are covering mostly principal.
b.
The amount for your mortgage payments will decline over the life of your loan.
c.
The amount of interest paid per mortgage payment will remain the same over the life of your loan.
d.
The amount of principal paid per mortgage payment will decrease over the life of your loan.


Please select the best answer from the choices provided

A
B
C
D

Answer 1

Explanation:

The correct answer is

a.

At the beginning of your loan, your payments are covering mostly interest. At the end of your loan, your payments are covering mostly principal.