alexandraguevara alexandraguevara

03-03-2020
Mathematics

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3. When making an extra payment on an amortized loan, where does the extra money go?

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shadowfamilyking shadowfamilyking

03-03-2020

i would think it goes to them or like the bank

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sunainashaheen sunainashaheen

03-03-2020

extra payment made reduces the amount of interest and shorten the amortization, as long as the payment goes towards the principal, and not the interest

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