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| Name | Amortized Loan: What It Is, How It Works, Loan Types, Example |
| Video Uploader | Video From Simple Explain |
| Upload Date | This Video Uploaded At 09-12-2023 14:31:01 |
| Video Discription | An amortized loan involves scheduled, periodic payments that are applied to both the loan's principal amount and the interest accrued. Examples include auto loans, home loans, and personal loans. Payments first cover the interest expense and then reduce the principal amount. Amortized loans differ from balloon loans and revolving debt in important ways. An amortization table can illustrate the calculations for an amortized loan. Early payoff is possible with extra payments, but borrowers should check for penalty fees. Most lenders provide amortization tables to show the breakdown of interest versus principal in each payment. f8f1 |
| Category | Education |
| Tags | Amortized Loan |
