Chapters 15 -18 (10%) Flashcards
1
Q
What does Amortized mean?
A
Amortization simply refers to the amount of principal and interest paid each month over the course of your loan term.
2
Q
What is a Fully Amortized Mortgage ?
A
When you make every payments according to the original schedule on your term loan, your loan will be fully paid off by the end of the term.
