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What is amortization of a loan?

Amortization is the process of spreading out a loan into a series of fixed payments. The loan is paid off at the end of the payment schedule. Amortization is the way loan payments are applied to certain types of loans.

What is amortization in accounting?

Amortization is an accounting technique used to periodically lower the book value of a loan or an intangible asset over a set period of time. Concerning a loan, amortization focuses on spreading out loan payments over time. When applied to an asset, amortization is similar to depreciation .

What is a loan amortization table?

An amortization table lists all of the scheduled payments on a loan as determined by a loan amortization calculator. The table calculates how much of each monthly payment goes to the principal and interest based on the total loan amount, interest rate and loan term.

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