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Texas Real Estate Exam

Category - Real Estate

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A schedule that shows how much of each payment will be applied to principal and how much toward interest over the life of the loan is called a/n:

amortization schedule
annual percentage rate
assumption
both A and C

Explanation

Answer: A. An amortization schedule is a table showing how much of each payment is applied to interest and how much to principal. It also shows the gradual decrease of the loan balance until it reaches zero.

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