Write the Correct Meaning for AD

question 34

Short Answer

Write the correct meaning for AD:

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Definitions:

Monthly Payment

The amount of money that needs to be paid each month, often used in the context of loans or leases.

Principal Portion

The part of a loan payment that reduces the outstanding balance owed on the loan.

Compounded Monthly

Interest calculation method where interest is added to the principal on a monthly basis.

Amortization Schedule

A detailed table of periodic loan payments, breaking down the amounts going towards principal and interest over the life of the loan.