An abbreviated amortization schedule illustrates that each month more and more of the payment is applied to interest and more and more of the payment is applied to the principal.

Name: An abbreviated amortization schedule illustrates that each month more and more of the payment is applied to interest and more and more of the payment is applied to the principal.
Brand: Quizplus
Rating: 4.8 (33 reviews)

Question

Quizplus · Accepted Answer

In an amortization schedule, over time, less of the payment is applied to interest and more of the payment is applied to the principal.

An Abbreviated Amortization Schedule Illustrates That Each Month More and More