Installment Debt

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Installment debt is a loan that is repaid by the borrower in regular installments. Installment debt is generally repaid in equal monthly payments that include interest and a portion of principal. This type of loan is an amortized loan which requires a standard amortization schedule to be created by the lender detailing payments throughout the loan’s duration.

Source: Installment Debt https://www.investopedia.com/terms/i/installmentdebt.asp#ixzz5DNvp3IRp