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The remaining balance on an amortized loan is paid down evenly over the life of a loan. For example, if you borrow $20,000 today on
The remaining balance on an amortized loan is paid down evenly over the life of a loan. For example, if you borrow $20,000 today on a 60 month amortized loan then your remaining balance reduces by 20,000/60=$333.33 each month
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