Consider the amount of the interest payments included in each of the payments of an amortized loan. which of the following statements regarding the pattern of the interest payments is true? everything else remaining constant, if you were to pay more than the minimum payment each year and apply the difference to the repayment of principal, the total amount of interest paid on the loan over its life would increase. the portion of the payment going toward interest is smaller in the early years of the loan and increases as the loan is repaid. the portion of the payment going toward interest is larger in the early years of the loan and decreases as the loan is repaid. the total amount of interest paid over the life of a mortgage loan is equal to the total of all of the loan payments and the loan’s principal.

Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false

He moto hotel opened for business on may 1, 2017. here is its trial balance before adjustment on may 31. moto hotel trial balance may 31, 2017 debit credit cash $ 2,283 supplies 2,600 prepaid insurance 1,800 land 14,783 buildings 72,400 equipment 16,800 accounts payable $ 4,483 unearned rent revenue 3,300 mortgage payable 38,400 common stock 59,783 rent revenue 9,000 salaries and wages expense 3,000 utilities expense 800 advertising expense 500 $114,966 $114,966 other data: 1. insurance expires at the rate of $360 per month. 2. a count of supplies shows $1,050 of unused supplies on may 31. 3. (a) annual depreciation is $2,760 on the building. (b) annual depreciation is $2,160 on equipment. 4. the mortgage interest rate is 5%. (the mortgage was taken out on may 1.) 5. unearned rent of $2,580 has been earned. 6. salaries of $810 are accrued and unpaid at may 31