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Math Help - [SOLVED] Help with hw for finite math True or False.

  1. #1
    kingpin
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    [SOLVED] Help with hw for finite math True or False.

    I have 2 true or false questions i do not know the answer to. i was wonderiing if you guys can help. Also i have to explain why the answer is true or false. Here you are the 2 questions:

    1. On mortgage or other long-term loan, the early payments go mostly to paying the interest. True of false explain

    2. In a conventional mortgage, the lending institution is making regular withdrawals from a decreasing annuity. True of false explain
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  2. #2
    MHF Contributor kalagota's Avatar
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    Taguig City, Philippines
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    Quote Originally Posted by kingpin View Post
    I have 2 true or false questions i do not know the answer to. i was wonderiing if you guys can help. Also i have to explain why the answer is true or false. Here you are the 2 questions:

    1. On mortgage or other long-term loan, the early payments go mostly to paying the interest. True of false explain
    it depends on the time of loan. but usually, it is compounded.. thus, my answer would be true.. since, the longer the period, the higher interest earned (in compounded interests)

    Quote Originally Posted by kingpin View Post
    2. In a conventional mortgage, the lending institution is making regular withdrawals from a decreasing annuity. True of false explain
    hehe, what is the "conventional mortgage"?
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