Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

amortized loan

Read a random definition: temporary injunction

A quick definition of amortized loan:

An amortized loan is a type of loan where you make regular payments that go towards paying off both the interest and the principal amount you borrowed. This means that each payment you make reduces the amount you owe until the loan is fully paid off. It's like slowly chipping away at a big block of ice until it's all gone. This is different from other types of loans where you might only pay off the interest and still owe the full amount at the end of the loan term.

A more thorough explanation:

An amortized loan is a type of loan where the borrower makes regular payments that go towards paying off both the interest and the principal amount. This means that with each payment, the borrower is reducing the amount owed on the loan.

For example, let's say you take out a $10,000 loan with a 5% interest rate and a 5-year term. With an amortized loan, you would make regular payments over the 5-year period that would go towards paying off both the interest and the principal. By the end of the 5 years, you would have paid off the entire loan amount plus interest.

Amortized loans are commonly used for mortgages, car loans, and personal loans. They are beneficial for borrowers because they allow for predictable payments and a clear timeline for paying off the loan.

amortize | amortized mortgage

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.