The payment under a fully amortized loan payment is constant and does not vary from month to month.

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A fully amortized loan payment includes both principal and interest, and is calculated to ensure that the loan is paid off in full by the end of the loan term. As a result, the payment remains constant throughout the loan term, with the majority of the payment going towards interest at the beginning and gradually shifting towards principal towards the end of the loan term.

The Payment Under a Fully Amortized Loan Payment Is Constant