-As shown in the accompanying figure,later payment periods apply more of the payment toward the _______.
A)index
B)interest rate
C)interest
D)principal

Name: -As shown in the accompanying figure,later payment periods apply more of the payment toward the _______. A)index B)interest rate C)interest D)principal
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Question

-As shown in the accompanying figure,later payment periods apply more of the payment toward the _______.
A)index 
B)interest rate 
C)interest 
D)principal

Quizplus · Accepted Answer

In later payment periods, more of the payment is applied toward the principal because the interest portion decreases as the outstanding balance reduces over time.

-As Shown in the Accompanying Figure,later Payment Periods Apply More