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what is amortization or what is the use of amortization?
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Answer Posted / sunitha c
Amortization is defined as the way to reduce debt by
installments. In other words, we reduce the amount of our
obligations by making monthly payments against the debt.
Mortgage payments are an amortization of our loan made to
purchase our home. So, if you purchase a home, you will
need to understand amortization, as well.
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