A(n) __ shows you the schedule of payments on a loan and the total interest and payments at the end of the loan. (1 point) payoff table amortization table payment table interest table

An amortization table is like a treasure map for your loan! It breaks down each payment, showing how much goes towards the principal and how much goes towards interest, month by month. By the end of the loan term, you'll see the total cost, including all interest paid, making it clear how your investment in borrowing unfolds over time. In the real world, understanding your amortization table can empower you as a borrower! For example, if you're considering refinancing to get a lower interest rate, comparing the new amortization schedule with the old one can reveal significant savings over the life of the loan. Plus, knowing how early payments affect your balance can help you make informed decisions about extra payments to cut interest costs!