Finance
An amortized mortgage loan in Kansas means that each payment:
AGoes entirely toward interest with principal paid at the end
BCovers both principal and interest, with the interest portion declining over time✓ Correct
CCovers principal only with interest paid at closing
DCovers only taxes and insurance
Explanation
In an amortizing loan, each payment covers both principal and interest. Early payments are mostly interest; later payments are mostly principal, as the balance declines.
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