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If you have an amortizing loan, every payment you make isn’t equally split. So when you apply the compounded interest rate to your initial. He will repay the loan by making equal payments at the end of each month for the. interest rate remains constant of the entire period of the loan, then we will be.
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Amortizing loan example. Hal and Barb borrowed $100,000 to buy a condominium in a suburb of Cleveland. They got an amortizing loan with an interest rate of 5 percent. In the first month of the.
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