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Florida Real Estate Course
Chapter 14
Florida Real Estate Practice Question
In a fixed-rate amortized mortgage, how do the principal and interest portions of the payment change over time?
Answer choices
A
Principal decreases, Interest increases.
B
Both Principal and Interest remain the same.
C
Principal increases, Interest decreases.
D
The total monthly payment increases.
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Mortgage Types and Qualification: A Florida Study Guide
All chapter guides
What changes with an adjustable-rate mortgage?
Why is APR often higher than the mortgage interest rate?