The following table shows the first two years of a three-year amortization schedule. a 3-year amortization schedule. the payments are the same, the principal increases, the interest decreases, and the balance decreases over the 3 years. use the information in the table to decide which of the following statements is true. a. the interest amount increases each month. b. the principal amount decreases each month. c. the payment amount changes each month. d. the payment amount each month stays the same.

We see from the table that interest in each previous month is bigger than next month, for example, in first month, it was $56.33, and in next month, it was $54.99, so interest is decreasing.

Thus, this option is not correct.

Option b. the principal amount decreases each month.

The principal amount in any previous month is smaller than the next month principal amount. For example, in first month, the principal amount was $184.96 and in next month, it became $186.33, so the principal amount is increasing.

Thus, this option is not correct.

Option c. the payment amount changes each month.

Option d. the payment amount each month stays the same.

Option C is false and option D is true. It is because the payment is constant $241.32(iie, it doesn't change, and therefore stays the same) in each of the months.

Thus, the true statement regarding the facts provided in the table is given by: Option D: the payment amount each month stays the same.

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