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22 November, 07:21

3. When making an extra payment on an amortized loan, where does the extra money go?

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Answers (2)
  1. 22 November, 07:23
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    i would think it goes to them or like the bank
  2. 22 November, 07:31
    0
    Extra payment made reduces the amount of interest and shorten the amortization, as long as the payment goes towards the principal, and not the interest
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