amortization schedule
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It is an accounting of a loan and the balance due at each payment. It gives you the total of principal and interest paid .
by knowitall
5 months ago
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When you get a loan like a mortgage, you pay the same amount every month but by the end of the term, the loan is paid back. This means that every period, you pay both interest and principal. The amount of principal you pay increases every month, based on the loan maturity and interest rate. This principal payment amount is termed the amortization schedule.
by MadMan- 5 months ago