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Make the monthly payments on time

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Question 1: First National Bank loans you $300,000 at 5% interest for the purchase of your new home. Monthly payments for the 30 year installment Note are $1,610.46. As you continue to make the monthly payments on time you can expect:

A. The interest portion of the payments will decrease and the principal portion of the payments will increase

B. The interest portion of the payments will increase and the principal portion of the payments will increase

C. The interest portion and the principal portion of the monthly payments will stay the same over the life of the note

D. The interest portion of the payments will increase and the principal portion of the payments will decrease

Reference no: EM132512156

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