Understanding Amortization: Meaning, Calculation, and Schedules
To calculate how your payment is apportioned for payments 2 and beyond, https://www.bookstime.com/ subtract previously applied payments to the principal from the starting principal to get the remaining balance. Amortized loans apply each payment to both interest and principal, initially paying more interest than principal until eventually that ratio is reversed. Let us consider the …
Understanding Amortization: Meaning, Calculation, and Schedules Read More »