- Budgeting
- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Family 3: Financing Children’s Education and Missions
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
Solve Problems Related to Amortized Loans
An amortized loan is a loan that is paid off in equal installments (payments) made up of both principal and interest. With an amortized loan, the interest payments decrease as your outstanding principal decreases; therefore, with each payment a greater amount of money goes toward the principal of the loan. Examples of amortized loans include car loans and home mortgages.
To determine the amount of a payment, you must know the amount borrowed (PV), the number of periods during the life of the loan (N), and the interest rate on the loan (I).
