A(n)________ is a schedule that calculates the interest per payment period, principal, repayment, and remaining balance.
A)database
B)financial function
C)IPMT function
D)loan amortization table

Question

Quizplus · Accepted Answer

A loan amortization table is the schedule that calculates the interest per payment period, principal, repayment, and remaining balance of a loan. It breaks down each payment into its components and allows borrowers to see how much they are paying in interest versus principal over time. This is useful for understanding the cost of borrowing and for planning future payments. Options A, B, and C are not correct as they do not refer to the specific tool used for calculating loan payments.

A(n)________ Is a Schedule That Calculates the Interest Per Payment