BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An amortized loan is a type of loan that requires the borrower to make scheduled, periodic payments that are applied to both the principal and interest. An amortized loan payment first pays off the interest expense for the period; any remaining amount is put towards reducing the principal amount.

Detailed explanation-2: -Amortization refers to the gradual process of paying off a loan balance with regular payments. Mortgages, personal loans, student loans, and auto loans are often amortizing loans with fixed monthly payments, fixed interest rates, and a predetermined repayment term.

Detailed explanation-3: -Amortization is the process of paying for a loan by making a series of fixed payments each month (or other agreed upon periods) until your balance reaches zero. When you make regular monthly payments on your home, car, motorcycle, or any other financed purchase, you are amortizing the loan.

Detailed explanation-4: -Amortization: Loan payments by equal periodic amounts calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance.

Detailed explanation-5: -Similar to what obtains for the depreciation of tangible assets, there are three primary methods of amortization: the straight-line method, the accelerated method, and the units-of-production method.