1. When loan payments are amortized, the total amount you owe every month 2. Why does the amount of INTEREST you pay decrease every month? 3. What happens to the principal paid over time?
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When loan payments are amortized, the total amount you owe every month is divided into equal monthly payments over the entire loan term. These monthly payments consist of both principal and interest components, which are calculated in such a way that the total Show more…
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