Homework Answers
Answer: True
Explanation:
An Amortization can refers to process of paying off debt in a regular installments of interest and principal sufficient to repay the loan by its maturity date.
An Amortized loan is the result of last year carrying value.
In amortization interest should be calculated on every moth carrying value, So the interest is deferred in schedule of amortization.
Amortization is used to process of paying off debt through regular principal and interest payments over time.
It is used to reduce the current balance on a loan through installment payments.
Thus, the given statement is true.
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