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What is a loan amortization schedule, and what are some ways these schedules are used?

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What is a loan amortization schedule, and what are some ways these schedules are used?

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A loan amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term. Each periodic payment is the same amount in total for each period.

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