An abbreviated amortization schedule illustrates that each month more and more of the payment is applied to interest and more and more 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 is applied to the principal.
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An abbreviated amortization schedule shows that over time, more of each payment is applied to the principal and less to the interest.

An Abbreviated Amortization Schedule Illustrates That Each Month More and More