An amortized loan: Requires that the amount borrowed increases over the life of the loan. O Requires that each loan payment pays down at least some of the principal amount. Requires that all interest be repaid on a monthly basis while the principal is repaid at the end of the loan term Requires that all payments be equal in amount and that they only include interest. O Repays both the principal and the interest in one lump sum at the end of the loan term