Question

When loan payments are amortized, the total amount you owe every month​

Answer 1

Answer:

Since amortization means the period repayment of a loan, with a specific amount going to the principal and interest payments, the amortization schedule amounts to a total fixed monthly payment of $836.03 over the life of the mortgage loan.

Explanation:

Answer 2

At the time when the loan payment should be amortized so the total amount owed is the periodic payment.

The following information related to the periodic payment is:

• At the time when there is owe amount for each amount and the payment regarding the loan should be amortized so it is a periodic payment.
• Also, from that some part of the payment is belonged to the interest and principal amount.

Therefore we can conclude that at the time when the loan payment should be amortized so the total amount owed is the periodic payment.

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