Regular principal payments along with
interest outstanding often referred to as a
straight line reduction loan . The borrower
is normally asked to pay interest in
conjunction with the principal payments.
Interest is payable only on the outstanding
balance of the loan during any given
interval. Therefore, while principal
payments are constant, interest payments are
gradually reduced. The advantage of this
plan is that payments are extremely easy to
calculate and consequently a popular
arrangement with private investors.
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