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explain loan amortization
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Loan amortization is a system of scheduling a loan but at a fixed cost which is a fixed interest added in equal installments. A small percentage of each installment is paid to supplement the interest rate charged to the borrower, and the remaining percentage of the money is added to the original amount borrowed. It is considered the fastest and best way to estimate the price of payments on an amortized loan by using a loan amortization calculator, or by making a table form.
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