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Abstract

The largest investment that most people make is buying a house. However, it is unusual to buy a house with cash. Most people borrow the money from a company that issues mortgages. The same process used to repay mortgages is frequently used to repay student loans and car loans. In Chap. 5 we mentioned amortization. In this chapter we study the process in detail.

Keywords

Interest Rate Time Diagram Nominal Interest Rate Saving Account Spreadsheet Program 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media, LLC 2007

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