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Line 1: − Amortization is the running down or payment of a [[loan]] by installments. An example is a repayment [[mortgage]] on a house, which is amortized by making monthly payments that over a pre-agreed period of time cover the value of the loan plus interest. With loans that are not amortized, the borrower pays only interest during the period of the loan and then repays the sum borrowed in full.+ − [[Category:Banking]]
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#REDIRECT [[amortization]]