Payments on installment notes normally include accrued interest plus a portion of the principal amount borrowed.

Name: Payments on installment notes normally include accrued interest plus a portion of the principal amount borrowed.
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This is correct. Payments on installment notes usually include both accrued interest and a portion of the principal amount borrowed. This allows the borrower to pay off the loan gradually over time, while also compensating the lender for the time value of money.

Payments on Installment Notes Normally Include Accrued Interest Plus a Portion