Installment Payments

Amortization
Amortization is the process of gradually writing off the initial cost of an asset over a specific term or the repayment of debt in installments.
Amortizing Loan
A loan in which the repayment is made in more than one installment, as opposed to a bullet loan where the repayment is made in a single lump sum at the end of the term.

Accounting Terms Lexicon

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