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Amortized Loan |
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Amortized Loan A loan with the same payment each pay period. In an amortized loan, different amounts go to principal and interest each month. This allows the lender to receive the full amount of interest while also keeping periodic payments equal. See also: Self-Amortizing loan. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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