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A note in which the principal amount is systematically reduced through regular payments of both principal and interest is known as a(n):______________.
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A note in which the principal amount is systematically reduced through regular payments of both principal and interest is known as a(n):______________.

User Deepak Thakur
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1 Answer

2 votes

Answer:

Amortized loan

Step-by-step explanation:

Amortized loan

Amortization is sometimes referred to as "liquidation" of a debt. An amortizing loan is a loan where the principal of the loan is paid down over the life of the loan (that is, amortized) according to an amortization schedule, typically through equal payments. Each payment to the lender will be made up of a portion of interest and a portion of principal.

User Dtuckernet
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