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| AMORTIZATION |
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Related Terminology: FACE VALUE
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| a gradual paying off of a debt by periodic installments. |
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| Example A $100,000 loan is arranged at an 8% interest rate. The borrower pays $10,000 in the first year. Of the payment, $8,000 is for interest, $2,000 for amortization. After the payment, the loan balance is amortized to $98,000. |
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