Exam 2 review · Lesson 17 of 45
Loans & Amortization
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Exam 2 review · Lesson 17 of 45 · 14 min
Loans & Amortization
Find a loan payment, split any payment into interest and principal, and track the balance, including loans with extra principal.
Inside this lesson
- Why this matters
- The core idea
- The formula
- Worked example 1: a four-year equipment loan
- Worked example 2: a mortgage with extra principal
- Your turn
- Calculator steps
- Common mistakes
- Quick check
- Key takeaways
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