Amortization Table Law and Legal Definition
Amortization table is a schedule of principal and interest payments for a promissory note, mortgage, or other types of debt. The table details each periodic payment on an amortizing loan as generated by an amortization calculator. A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule.
Legal Definition list
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