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Amortization, Amortizing loan

Amortization--A repayment method in which the amount you borrow is repaid gradually though regular monthly payments of principal and interest. During the first few years, most of each payment is applied toward the interest owed. During the final years of the loan, payment amounts are applied almost exclusively to the remaining principal.

Title: Amortization, Amortizing loan
Tagged: Amortization, Amortizing loan
Description: Amortization is a repayment method in which the amount you borrow is repaid gradually though regular monthly payments of principal and interest.