Amortization is the schedule by which you'll reduce the balance of your debt.

Name: Amortization is the schedule by which you'll reduce the balance of your debt.
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Amortization refers to the process of paying off debt over time through regular payments, where part of each payment goes towards the loan principal and part towards interest, thereby reducing the balance of the debt according to a predetermined schedule.

Amortization Is the Schedule by Which You'll Reduce the Balance