Ask Question
11 February, 23:43

When a mortgage loan with level periodic payments has been completely repaid by the maturity date, it is said to be?

+5
Answers (1)
  1. 12 February, 01:25
    0
    When a mortgaged loan loan has been completely repaid by maturity date, the loan is said to be fully amortized. For example, you buy a house for $100. The interest on this house is 10% and the mortgage term is 1 year, your mortgage will be repaid in Nov 2018 by paying $9 every month, with a total interest of $5. You repaid the mortgage with interest. Then it is said to be fully amortized.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When a mortgage loan with level periodic payments has been completely repaid by the maturity date, it is said to be? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers