Amortization

Posted on February 20, 2011 by Thomas DeGrace

Amortization is the paying off of debt in installments over a period of time.

Understand How Amortization Works

Whenever you get loan such as a mortgage, you are require to pay off that loan in equal installments over a set amount of months or years.  An amortization schedule table can show you the details of how each payment effects your interest paid, principle paid as well as show your overall remaining balance after each payment.

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