In each succeeding payment on an installment note

A) The amounts paid for both interest and principal increase proportionately

B) The amount of principal paid decreases.

C) The amount of principal paid increases

D) The amount of interest paid increases.

Question

Business

Henderson

6 January, 18:17

In each succeeding payment on an installment note

A) The amounts paid for both interest and principal increase proportionately

B) The amount of principal paid decreases.

C) The amount of principal paid increases

D) The amount of interest paid increases.

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Answers (1)

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Kylie Burke · Answer 1

The amount of principal paid increases

Answer: Option C.

Explanation:

Installment loan advances incorporate any advance that is reimbursed with routinely booked installments or portions.

Every installment on a portion obligation incorporates reimbursement of a segment of the chief sum acquired and furthermore the installment of enthusiasm on the obligation.

In each succeeding payment on an installment noteA) The amounts paid for both interest and principal increase proportionatelyB) The amount of principal paid decreases.C) The amount of principal paid increasesD) The amount of interest paid increases.

In each succeeding payment on an installment note

A) The amounts paid for both interest and principal increase proportionately

B) The amount of principal paid decreases.

C) The amount of principal paid increases

D) The amount of interest paid increases.