The term amortized refers to
A)the method by which interest is calculated in a loan contract.
B)the repayment of a loan through a series of equal payments.
C)the loan maturity date in a loan contract.
D)the term contracted to pay off a loan.

Question

Quizplus · Accepted Answer

Amortized refers to the repayment of a loan through a series of equal payments, which includes both the principal and the interest. It ensures that the loan is fully paid off by the end of the repayment period.

The Term Amortized Refers to