What is Amortization?
TEST_LOAN AMORTIZATION

Flashcard
•
Mathematics
•
9th - 12th Grade
•
Hard
Quizizz Content
FREE Resource
Student preview

15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Back
Amortization is the paying off of debt with a fixed repayment schedule in regular installments over a period of time.
2.
FLASHCARD QUESTION
Front
What is the 'principal' in a loan?
Back
The principal is the amount originally borrowed.
3.
FLASHCARD QUESTION
Front
Calculate the monthly payment for a $10,000 car loan at 5.9% for 4 years.
Back
The monthly payment would be $234.39.
4.
FLASHCARD QUESTION
Front
What is the correct formula for finding the monthly payment on a loan?
Back
5.
FLASHCARD QUESTION
Front
What is the term for the installment payment on a loan?
Back
The installment payment on the loan is termed Amortization.
6.
FLASHCARD QUESTION
Front
What does a fixed repayment schedule mean?
Back
A fixed repayment schedule means that the payment amount remains the same throughout the loan term.
7.
FLASHCARD QUESTION
Front
What is an example of a loan that uses amortization?
Back
Examples include a mortgage or a car loan.
Create a free account and access millions of resources
Similar Resources on Quizizz
15 questions
Unit 7.1-7.4 Flashcard

Flashcard
•
9th - 12th Grade
15 questions
Loan ammortization day 1

Flashcard
•
9th - 12th Grade
15 questions
Loan ammortization day 1

Flashcard
•
9th - 12th Grade
15 questions
Mortgages and Car Loans

Flashcard
•
9th - 12th Grade
15 questions
Financial Algebra Ch 4.1-4.2

Flashcard
•
10th - 12th Grade
15 questions
3.1-3.4 Review Financial Algebra

Flashcard
•
9th - 12th Grade
15 questions
Unit 7.1-7.4 Flashcard

Flashcard
•
9th - 12th Grade
15 questions
4-2 Loans, Vocabulary

Flashcard
•
9th - 12th Grade
Popular Resources on Quizizz
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade