Finance
What does 'amortization' mean in the context of a mortgage loan?
AThe process of increasing the loan balance over time
BThe gradual repayment of loan principal through regular payments✓ Correct
CThe calculation of annual property taxes
DThe lender's assessment of the borrower's creditworthiness
Explanation
Amortization is the gradual repayment of a mortgage loan's principal through regular (typically monthly) payments that include both principal and interest.
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