Modified Multiple Choice an Amortization Schedule Shows the ____ of a Loan

question 76

Multiple Choice

Modified Multiple Choice An amortization schedule shows the ____ of a loan, and the amount of payment that applies to the principal and interest for each year over the life of the loan.

• A) daily income
• B) beginning balance
• C) ending balance
• D) daily cost

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Definitions:

Bearer Instruments

Financial documents that accord ownership or payment to the person physically holding the document.

Payable

Refers to an amount of money that is owed by a person or company and is required to be paid to another party.

Bearing Them

Taking responsibility for or dealing with something, often implying a burden or hardship that must be endured.

Transferable

Characteristic of an item, right, or obligation, that allows it to be passed from one party to another, often involving legal documentation.