Explain in general terms how the portion s of loan payment going to principal and interest change over the life of the loan .
A. Installment loans gradually pay down the loan principal while the payments remain the same . Therefore , the interest due each month gradually decreases and the amount paid toward the principal gradually increases.
B. Installment loans gradually pay down the loan principal while the payments remain the same. Therefore , the interest remains the same and the amount paid toward the principal gradually decreases.
C. Installment loans gradually pay down the loan principal while the payments remain the same . Therefore , the interest remains the same and the amount paid toward the principal gradually increases .
D. Installment loans gradually pay down the loan principal while the payments remain the same .Therefore, the interest due each month gradually increases and the amount paid toward the principal gradually decreases.
Extracted text: Explain, in general terms, how the portions of loan payments going to principal and interest change over the life of the loan. Choose the correct answer below. O A. Installment loans gradually pay down the loan principal while the payments remain the same. Therefore, the interest due each month gradually decreases and the amount paid toward the principal gradually increases. O B. Installment loans gradually pay down the loan principal while the payments remain the same. Therefore, the interest remains the same and the amount paid toward the principal gradually decreases. O C. Installment loans gradually pay down the loan principal while the payments remain the same. Therefore, the interest remains the same and the amount paid toward the principal gradually increases. OD. Installment loans gradually pay down the loan principal while the payments remain the same. Therefore, the interest due each month gradually increases and the amount paid toward the principal gradually decreases.