Problem: In each succeeding payment on an installment note: a) The amount of interest expense increases. b) The amount of interest expense decreases. c) The amount of interest expense is unchanged. d) The amounts paid for both interest and principal increase proportionately.

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In each succeeding payment on an installment note:

a) The amount of interest expense increases.

b) The amount of interest expense decreases.

c) The amount of interest expense is unchanged.

d) The amounts paid for both interest and principal increase proportionately.

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