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Which of the following most accurately describes the cash flows of a fixed rate, level payment, fully amortized mortgage loan? A. The mortgage is amortized in the final payment as in corporate debt. B. The borrower pays equal percentage installments over the term of the mortgage. C. The borrower pays equal installments over the term of the mortgage. D. The mortgage is amortized in two equal payments, one after half of the life of the mortgage and one at the end. |