TVM 3 Voice Over - Amortizations

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5 Terms

1
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Amortization

Repayment of a debt on a fixed payment schedule of regular installments over a period of time.

2
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Amortization Term

Time period to repay loan in full by regular payments, typically 15 or 30 years for mortgage loans.

3
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Term to Maturity (TTM)

Time until final payment is due, same as amortization term for a fully-amortizing loan.

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Fully-Amortizing Payment

Constant monthly payments of principal and interest that fully satisfy the principal balance by maturity.

5
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Negative Amortization

Constant monthly payment less than the periodic interest due on a loan, with unpaid interest added to the principal balance.