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 shows the beginning balance and the ending balance of a loan, as well as the amount of payment that applies to the principal and interest for each period (usually year or month) over the life of the loan. Therefore, options B and C are the correct choices. Option A and D are not related to the concept of amortization schedule.

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