Question

A mortgage note payable with a fixed interest rate requires the borrower to make installment payments over the term of the loan. Each installment payment includes interest on the unpaid balance of the loan and a payment on the principal. With each installment payment, indicate the effect on the portion allocated to interest expense and the portion allocated to principal.

Answer 1

With each installment payment i'd say that Portion Allocated to Interest decreases while Portion Allocated to principal Increases

Step-by-step explanation: