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Amortized Loan

Amortized Loan Definition

Amortized Loan is a loan where the borrower pays the same amount each month. The monthly amount includes some part of the interest and some part of the principal amount borrowed. This type of loan charges the interest upfront. Later on interest payment decreases and principal payment grows, although the monthly payment amount remains the same. For example a car loan is an amortized loan in most cases.




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