Amortization
| Term | Definition |
|---|---|
| Amortization | A sum of borrowed money (principal) that is generally repaid with interest. Afrikaans - Lening ">Loan payment by equal periodic payments calculated to pay off the An agreement between the customer and a bank in the form of a homeloan, whereby the property is used as the security for the loan. It is a legal document that pledges a property to the lender as security for payment of a debt. Afrikaans - Verband ">mortgage at the end of a fixed period. |