Finance
Which of the following best describes amortization in a Missouri mortgage?
APaying only interest with a balloon at the end
BReducing the loan balance through scheduled principal and interest payments✓ Correct
CIncreasing the loan balance over time
DA one-time interest payment
Explanation
Amortization is the process of repaying a loan through regular installment payments that include both principal reduction and interest, with the balance reaching zero at the end of the term.
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