Finance
A fully amortized mortgage means:
AThe loan has a balloon payment at the end
BRegular payments of principal and interest will completely pay off the loan by the end of the term✓ Correct
COnly interest is paid during the loan term
DThe interest rate adjusts monthly
Explanation
A fully amortized mortgage is structured so that regular equal payments of principal and interest over the full loan term result in the complete payoff of the loan with no balance remaining.
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