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A $100,000 loan is to be amortized over6years, with annual end-of-year payments. Which of these ...

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A $100,000 loan is to be amortized over6years, with annual end-of-year payments. Which of these ...

A $100,000 loan is to be amortized over6years, with annual end-of-year payments. Which of these statements is correct?

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The annual payments would belessif the interest rate werehigher.

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The proportion of each payment that represents interest as opposed to repayment of principal would be higher if the interest rate were higher.

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If the loan were amortized over 8 years rather than 6 years, and if the interest rate were the same in either case, the first payment would include fewer dollars of interest under the 6-year amortization plan.

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The last payment would have asmallerproportion ofprincipalthan the first payment.

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

Read 72 times

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Thanks

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This helped my grade so much Perfect

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