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Originally Scheduled Payments
Originally scheduled payments refer to the payments planned and agreed upon at the outset of a loan or mortgage, before any adjustments or changes.
Replacement Payments
Payments made to compensate for goods or services that were faulty, damaged, or otherwise inadequate, ensuring the recipient receives what was originally contracted.
Interest Rate
A percentage that measures the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed.
Equal Payments
A series of payments of the same amount made at regular intervals for a specified period of time.
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