 September 23rd, 2010 General Membership Meeting October 21st, 2010 Fall Social Event with Coat Drive
amortization The loan payment consists of a portion which will be applied to pay the accruing interest on a loan, with the remainder being applied to the principal. Over time, the interest portion decreases as the loan balance decreases, and the amount applied to principal increases so that the loan is paid off (amortized) in the specified time.
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