The following table shows a portion of a three-year amortization schedule. 3-year amortization schedule. Loan amount or principal: 12,240 dollars. Interest rate on loan: 8.71 percent. A 5-column table with 7 rows. Column 1 is labeled Month with entries 13, 14, 15, 16, 17, 18, 19. Column 2 is labeled payment and all entries are 387 dollars and 58 cents. Column 3 is labeled Principal with entries 325.82, 328.19, 330.57, 332.97, 335.38, 337.82, 340.27. Column 4 is labeled Interest with entries 61.76, 59.39, 57.01, 54.61, 52.19, 49.76, 47.31. Column 5 is labeled Balance with entries 8,182.71, 7,854.52, 7,523.95, 7,190.99, 6,855.60, 6,517.78, 6,177.51.
Use the information in the table to decide which of the following statements is true.