Intro: How To Install An Electric Fence. For gardeners everywhere, the race to gather the harvest before animals do can be frustrating. Luckily, there is hope. Electric fences help provide a barrier around your garden ...
The long-term loan usually has a maturity of 3-10 years although long-term bank loans can stretch out as far as 20 years depending on its purpose.
Term means how long you'll have the loan for. The amortization is what your payments will be based on. So, this loan is for 10 years and your payments will be based on a 20-year loan. This results in your monthly payments being less.