Which of the following statements is true of amortization? The computation of lo
ID: 2775716 • Letter: W
Question
Which of the following statements is true of amortization?
The computation of loan amortization is wholly based on the computation of simple interest.
The amortization schedule provides the data of equated monthly payments for which the classification of principal and interest along with unpaid principal balance is provided.
The amortization schedule represents only the interest portion of the loan.
Amortization solely refers to the total value to be paid by the borrower at the end of maturity.
The computation of loan amortization is wholly based on the computation of simple interest.
Explanation / Answer
The amortization schedule provides the data of equated monthly payments for which the classification of principal and interest along with unpaid principal balance is provided.
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