For example, a four-year car loan would have 48 payments (four years × 12 months). Loan Amortization Schedule vs. Loan Term Though related, loan amortization schedule and loan term are not the same.

Estimate your monthly loan repayments, interest rate, and payoff date Fact checked by Rebecca McClay Amortization is an ...

For example, loan amortization involves repaying ... the distribution of payments over the loan term. An amortization schedule is a table that outlines each payment made on an amortizing loan.

When applied to loans, amortization involves repaying both principal and interest through scheduled payments over a set period. Common examples include mortgages, car loans and business loans ...