MORTGAGE AND AMORTIZATION
Objectives:
- What is Mortgage and Amortization
- Mortgage and Amortization formula
- How to solve Mortgage and Amortization( the quick and the long solution
process)
Mortgage and Amortization
● Mortgage - is a loan you take to buy a home or property, and you pay it back
little by little over time, usually monthly. The home you buy is used as a
guarantee for the loan.
● Amortization - is the way the loan is paid off in regular payments. At first, most
of your payment goes toward the interest (the cost of borrowing). As time goes
on, more of your payment goes toward paying off the loan itself (the principal).
Formula
Example and Solution
Objectives:
- What is Mortgage and Amortization
- Mortgage and Amortization formula
- How to solve Mortgage and Amortization( the quick and the long solution
process)
Mortgage and Amortization
● Mortgage - is a loan you take to buy a home or property, and you pay it back
little by little over time, usually monthly. The home you buy is used as a
guarantee for the loan.
● Amortization - is the way the loan is paid off in regular payments. At first, most
of your payment goes toward the interest (the cost of borrowing). As time goes
on, more of your payment goes toward paying off the loan itself (the principal).
Formula
Example and Solution
