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Decide whether each of the following statements makes sense (or is clearly true) or does not...

Decide whether each of the following statements makes sense (or is clearly true) or does not make sense (or is clearly false). Explain your reasoning.

The interest rate on my student loan is only 6%, yet more than half of my payments are currently going toward interest rather than principal.

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Answer #1

The statement makes sense.

The portions of installment loan payments going towards principal and toward interest vary as the loan is paid down.

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