A home warranty is a service contract that covers the repair or replacement of important home system components and appliances that break down over time. A home warranty can help save you money. Breakdowns are inevitable â home system components and appliances simply wear out over time.
DEFINITION of 'Amortization'. 1. The paying off of debt with a fixed repayment schedule in regular installments over a period of time. Consumers are most likely to encounter amortization with a mortgage or car loan. 2. The spreading out of capital expenses for intangible assets over a specific period of time (usually over the asset's useful life) for accounting and tax purposes. Amortization is similar to depreciation, which is used for tangible assets, and to depletion, which is used with natural resources.
Amortization Schedule Calculator. This mortgage loan calculator-also known as an amortization schedule calculator-lets you estimate your monthly loan repayments.It also determines out how much of your repayments will go towards the principal and how much will go towards interest.mortization Schedule Calculator. This mortgage loan calculator-also known as an amortization schedule calculator-lets you estimate your monthly loan repayments.