Finance
Amortization in a mortgage loan refers to:
AIncreasing monthly payments over the loan term
BThe gradual repayment of the loan balance through scheduled principal and interest payments✓ Correct
CThe lender's ability to call the loan
DInterest-only payments
Explanation
Amortization is the process of paying off a loan through regular scheduled payments that include both principal and interest, gradually reducing the loan balance to zero by the end of the term.
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