Amortization debt is defined as:
A)paid as a lump sum at the end of a loan.
B)repaid principal over the life of the loan.
C)the death of a loan.
D)repaid in a lump sum at the beginning of a loan.

Question

Quizplus · Accepted Answer

Amortization debt refers to a loan that is repaid in regular installments over the life of the loan, where each payment includes both principal and interest. This process gradually reduces the balance of the loan until it is fully repaid.

Amortization Debt Is Defined As