Answer to Question #281057 in Finance for Aarti

Question #281057

What does the amortization schedule tell about a loan payment?


1
Expert's answer
2021-12-20T10:21:09-0500

An amortization schedule provides information about periodic loan payments. It is prepared by financial institutions or creditors (e.g. banks) to present a loan repayment schedule to borrowers. An amortization table consists of details about loan amount, payment, interest, principal and remaining loan amount at each period (month, quarter, semiannual or yearly). The amortization schedule helps lenders to know about what they owe and when payment is due at each period. It is also known as the mortgage amortization schedule.





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