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Question
One of the first amortizing mortgages was the constant amortization mortgage (CAM). Which of the following characterized the components of the CAM payment over the life of the loan?
| Interest | Amortization | Payment | ||
| (A) | Decreasing | Decreasing | Decreasing | |
| (B) | Constant | Decreasing | Decreasing | |
| (C) | Decreasing | Constant | Decreasing | |
| (D) | Constant | Constant | Constant |
A) Option A
B) Option B
C) Option C
D) Option D
Answer
This answer is hidden. It contains 19 characters.
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