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Eric, after listening to you talk about surpluses, investing and being smart with money, is thinking about how much he would save in interest on his car loan if he paid $50 dollars extra each time he paid his car note. To get this information, eric would need what type of schedule to show him the impact of his extra payments?.

Respuesta :

varshamittal029

To understand how his additional payments will affect him, Eric requires an amortization plan.

  • An amortization schedule is a chart that shows the regular payments on a mortgage over time. By using a mortgage amortization plan, you can keep track of how much is still owed on your mortgage and calculate how much goes to interest.
  • The practice of paying off debt over a series of consistent payments is called amortization. Both the principle and interest portions of each payment are applied to the loan balance. As the debt is amortized, a steadily larger sum is added to the principle each month. An amortization schedule will show you how much you will pay in principal and interest over time.

Thus this is the meaning of amortization schedule.

Refer here to learn more about amortization schedule: https://brainly.com/question/28991835

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