Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - 8.7 The Cost of Home Ownership - Concept and Vocabulary Check - Page 555: 3

Answer

False

Work Step by Step

The statement in the exercise is false. We can make changes to produce a true statement, as follows: Over the life of an installment loan, the interest portion decreases, and the portion applied to paying off the principal increases with each successive payment.
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