Question

Given these values, what function would you use to calculate the balance of the loan at the end of the loan?

1) Amortization function
2) Interest function
3) Principal function
4) Payment function

Answer 1

The function you would use to calculate the balance of the loan at the end of the loan is the 1) Amortization function. Hence, option 1) is correct.

Step-by-step explanation:

The function you would use to calculate the balance of the loan at the end of the loan is 1) Amortization function.

The amortization function considers factors such as the loan amount, interest rate, and loan term to determine the repayment schedule and calculate the balance over time.