Consider the following statements about the Loan Calculator and the resulting Loan Amortization Schedule: Statement A: The Loan Calculator must take the interest rate and compounding frequency (usually monthly for EMI) as key input parameters to accurately determine the constant EMI amount. Statement B: The total principal repaid is always the same for all loan tenures (equal to the loan amount borrowed), but the total interest paid increases with the increase in loan tenure.

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Banking · Loan Amortization

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

Both Statement A and Statement B are correct.

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Answer 1

Only Statement A is correct.

Answer 2

Only Statement B is correct.

Answer 3

Both Statement A and Statement B are correct.

Answer 4

Neither Statement A nor Statement B is correct.

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