Finance
What is the purpose of an amortization schedule on an Iowa mortgage?
AIt shows the commission earned by the loan officer
BIt shows how each payment is divided between principal and interest over the life of the loan✓ Correct
CIt lists all closing costs paid by the buyer
DIt shows the property tax schedule for the term of the loan
Explanation
An amortization schedule breaks down each mortgage payment, showing how much goes to interest and how much reduces the principal balance, until the loan is fully paid off.
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