Multiple Choice
The monthly interest on your adjustable-rate mortgage (ARM) was $690. You paid $650 as your monthly payment on the loan, leading to an increase in the principal balance. This is an example of:
A) a growing equity.
B) negative amortization.
C) a fixed interest expense.
D) shrinking principal.
E) an indexed equity.
Correct Answer:
Verified
Correct Answer:
Verified
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