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32. Which of the statements below is FALSE? A) Reducing principal at a faster pace...

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Accounting

32. Which of the statements below is FALSE?

A) Reducing principal at a faster pace reduces the overall interest paid on a loan.

B) The more frequent the payment, the lower the total interest expense over the life of the loan, even though the effective rate of the loan is higher.

C) Reducing principal at a faster pace increases the overall interest paid on a loan.

D) Monthly interest on a loan is equal to the beginning balance times the periodic interest rate.

Answer:

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