A loan repaid in payments of principal and interest.
a loan in which the principle amount is repaid in installments over the life of the loan
A repayment method in which the amount you borrow is repaid gradually though regular monthly payments of principal and interest. During the first few years, most of each payment is applied toward the interest owed. During the final years of the loan, payment amounts are applied almost exclusively to the remaining principal.
A loan that is repaid in a series of installments each of which contains a portion that is applied to reduce the principal amount of the loan and a portion that is applied to pay interest. As time goes on, each successive payment allocates a larger portion to principal reduction and a smaller portion to interest payment until the outstanding balance is ultimately reduced to zero. If the loan has a fixed rate of interest, each payment is the same dollar amount throughout the course of the loan. If the loan has an adjustable rate of interest, each payment at each particular interest rate is the same dollar amount. For example, while the interest is 8.0%, all of the payments on a $100,000 loan for 30 years will be $733.77. If the interest rate changes to 9.0%, all of the payments will be $804.62 while the rate remains at the 9.0% rate.
A loan in which periodic installment payments are made. The interest portion due is subtracted from the payment amount and the remainder is applied against the principal. The payment amount and number of payments are calculated so that each payment gradually reduces the principal and the last payment reduces it to zero.
A loan that is paid off in equal installments of principal and interest rather than in interest only payments.
A loan that is completely paid off, interest and principle, in equal, or nearly equal installment payments.
A financial obligation that is repaid over a period of time by a series of periodic payments.
A loan that is completely paid off in installments.
A loan in which the principal as well as the interest is payable in monthly or other periodic installments over the term of the loan.
Loan that is completely paid off, both as to principal and interest, by a series of regular payments that are equal or nearly equal.
A loan which is paid off in equal installments during its term.
A loan to be repaid, interest and principal, by a series of regular payments that are equal or nearly equal, without any special balloon payment prior to maturity.
A loan structured to require regular, level payments, each including a portion for principal and a portion for interest. The loan is fully amortized if the payments will pay off the debt in full by the end of the loan term; it is partially amortized if a balloon payment of the remaining principal balance will be required at the end of the term.
A loan to be repaid, by a series of regular installments of principal and interest, that are equal or nearly equal, without any special balloon payment prior to maturity.
A timetable for payment of a mortgage loan. An amortization schedule shows the amount of each payment applied to interest and principal and shows the remaining balance after each payment is made.
The act or process of extinguishing debt, with equal payments at regular intervals over a specific period of time.
A loan that is paid off, both interest and principal, by regular payments that are equal or nearly equal.
An amoritized loan is a loan where the interest and principal are both paid off in their entirety through a series of scheduled payments over a specified amount of time.
A loan in which both the principal and interest are payable in monthly or other periodic installments over the term of the loan, with no balloon payment prior to maturity