Amortization Schedule
/ˌæmərtəˈzeɪʃən ˈskedʒuːl/
Definitions
- (n.) A detailed table outlining each periodic payment on a loan, showing amounts applied to principal and interest until the loan is fully paid.
The loan officer provided an amortization schedule to explain how each monthly payment reduces the debt.
Forms
- amortization schedule
- amortization schedules
Related terms
See also
Commentary
Amortization schedules are essential in legal and financial documentation to detail repayment plans, aiding clarity in contract enforcement.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.