Amortization defined as systematic repayment extinguishing indebtedness through periodic principal and interest payments under an amortization plan. Amortization historically signified transfer of lands into mortmain; modernly it denotes systematic repayment of indebtedness by periodic installments or ... Summary
Amortization defined as systematic repayment extinguishing indebtedness through periodic principal and interest payments under an amortization plan.
Amortization historically signified transfer of lands into mortmain; modernly it denotes systematic repayment of indebtedness by periodic installments or a sinking fund. An amortization plan schedules partial payments of principal and accrued interest over a fixed term so that the entire indebtedness is extinguished at expiry.
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