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marklavender1 · Joined: 13 Sep 2009 Posts: 120 -0.14 Dollars($)

What does `amortization` mean?

greggwyburn · Joined: 13 Sep 2009 Posts: 60 0.00 Dollars($)

hi mark,

amortization means a type of 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

gmakerley · Posted: Thu Sep 24, 2009 7:17 am Post subject:

that's pretty imprecise.

mark, you would be better off to enter the word into a google search or similar and you'd get a definition that way.

this post doesn't edify the conglomeration of folk who visit this site.

jveenstra · Posted: Thu Sep 24, 2009 7:35 am Post subject: Amortization

Beside payments of principal and interest, the payments are equal over the life of the loan.
In order to make the payments equal over the life of the loan, the portion of interest and principal paid each month changes. With every payment more goes to principal and less to interest.

lovegreg77 · Joined: 03 Sep 2009 Posts: 34 0.00 Dollars($)

it is closely linked with EMI.

EMI means equated monthly installment. for the sake of simplicity & fixed income of individual, it is a standard practise in industry to pay back mortgage as an EMI

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