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Which of the following statements is TRUE if you increase your monthly payment above the required ...

stranahan

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Which of the following statements is TRUE if you increase your monthly payment above the required ...

Which of the following statements is TRUE if you increase your monthly payment above the required loan payment?
A) The extra portion of the payment does not go to the principal.
B) The extra portion of the payment increases the principal.
C) You can significantly reduce the number of payments needed to pay off the loan.
D) You can significantly increase the number of payments needed to pay off the loan.

Textbook

Financial Management: Core Concepts

Edition: 2^nd

Author: Brooks

Read 178 times

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blightermourn

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More solutions for this book are available here

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Kumbaya my lord, Kumbaya

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stranahan Author

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7 years ago

Thank you for the help. I had a few questions on a few of them and this really confirmed my answers.

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