Sylvia is taking a personal finance course and is reviewing the chapter on housing. She is having trouble regarding amortization. You explain to your friend Sylvia tha a longer amortization period will result in __________ and a __________ over the life of the mortgage.
Question 6Select one:
a.
higher monthly mortgage payments; lower amount of mortgage interest payable
b.
lower monthly mortgage payments; higher amount of mortgage interest payable
c.
higher monthly mortgage payments; higher amount of mortgage interest payable
d.
lower monthly mortgage payments; lower amount of mortgage interest payable