An amortization schedule shows the ____ of a loan,and the amount of payment that applies to the principal and interest for each year over the life of the loan.
A)daily income
B)beginning balance
C)ending balance
D)daily cost

Question

Quizplus · Accepted Answer

An amortization schedule details the beginning balance, which is the total amount borrowed, and the ending balance, which is the remaining outstanding balance after each payment. It also shows the breakdown of each payment into principal and interest amounts for every year of the loan. Therefore, options A and D are incorrect.

An Amortization Schedule Shows the ____ of a Loan,and the Amount