amortization of a loan
The Spanish term 'amortización de un préstamo' translates to 'amortization of a loan' in English. This refers to the process of paying off a debt (in this case, a loan) over time in regular installments. An amortization schedule is often used to highlight the interest and principal components of a loan repayment schedule, showing the gradual decrease in the loan balance over time.
The amortization of a loan is done monthly.
This phrase indicates that the process of repaying the loan is done on a monthly basis.
It is important to understand the amortization of a loan before signing the contract.
This emphasizes the necessity of grasping how loan repayment works prior to committing to a contract.
The amortization of a loan affects the total interest you will pay.
This statement highlights that how a loan is amortized influences the overall interest cost throughout the loan period.