This posting discusses amortization tables used for loans.
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Could you please define and explain an amortization table. What is it and what is it used for? Finally, please plug in a loan amount to a table of your selection (share your resource) and identify the declining interest through time. Feel free to use a personal loan example or a fictitious either way works fine.
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Solution Summary
The solution explains loan amortization tables, and uses the example of a personal loan. Resources are also provided.
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An amortization table is also called an amortization schedule. It is basically a table that shows the declining value of the loan as the loan is paid off for a fixed number of years. It is a comprehensive schedule that details the loan payments, including the amount of the loan payment that goes ...
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