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Amortization table
Amortization table Mathematical formula for calculating a borrower's monthly payments, based on the amount borrowed, the interest rate and the term of the loan.
RELATED TERMS--------------------------------------
Interest
Money paid to a lender as compensation for money that is borrowed.
Rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage.
Term
The length of time in which a loan is to be paid off.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
SIMILAR TERMS--------------------------------------
Amortization
Gradual payment of a debt through regular installments that cover both interest and principal.
Amortization schedule
A table which shows how much of each payment will be applied toward principal and how much toward interest over the life of the loan.
Amortization term
Expressed in months, this term simply states how long it will take you to pay off your mortgage.
Amortize
To pay a debt in periodic amounts until the total amount, including any interest, is paid.
Amortized loan
A loan in which the principal as well as the interest is payable in monthly or other periodic installments over the term of the loan.
PREVIOUS AND NEXT TERMS--------------------------------------
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Amortization
Gradual payment of a debt through regular installments that cover both interest and principal.
Amortization schedule
A table which shows how much of each payment will be applied toward principal and how much toward interest over the life of the loan.
Amortization table
Amortization term
Expressed in months, this term simply states how long it will take you to pay off your mortgage.
Amortize
To pay a debt in periodic amounts until the total amount, including any interest, is paid.
Amortized loan
A loan in which the principal as well as the interest is payable in monthly or other periodic installments over the term of the loan.
Amount financed
The principal that is financed. It could include the cost of the purchase and other items rolled into the payments.
Amperage
The strength of an electrical current.
This dictionary contains 6433 terms. |
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