Define the Following:dependent Variable

question 33

Essay

Define the following:dependent variable

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Definitions:

Monthly Payments

Regular payments made each month by a borrower to a lender, often as part of a loan repayment plan.

Loan Terms

Loan terms are the specific conditions and details agreed upon by the lender and borrower, including interest rate, repayment schedule, and duration of the loan.

Amortized Loan

A loan with scheduled periodic payments that cover both principal and interest over the loan's term until it is paid off at maturity.

Monthly Mortgage Payment

The amount paid by a borrower to a lender each month, which includes principal and interest on a mortgage loan.