If a loan is to be repaid in equal periodic amounts (monthly, quarterly, or annually), it is said to be an amortized loan.

Name: If a loan is to be repaid in equal periodic amounts (monthly, quarterly, or annually), it is said to be an amortized loan.
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Question

Quizplus · Accepted Answer

This statement is true. An amortized loan has equal periodic payments that include interest and principal, so that the loan is fully repaid by the end of the loan term.

If a Loan Is to Be Repaid in Equal Periodic