If a customer purchases an eligible item during a sales tax holiday, but after the sales tax holiday returns the item and receives a credit toward the subsequent purchase of a different item, the purchase of that item does not qualify for the exemption even if it is an eligible item.
loan amortization schedule. Definition. Schedule of loan payments that shows due dates and the amount of money that will applied to the principal and the amount that will go towards the interest. This schedule may be adjusted if a borrower pays more than expected during a specific billing period.
By reviewing an amortization table before agreeing to a loan, you can get a good picture of the monthly payments, how long it will take to pay off the loan, and the total cost of borrowing. Deeper definition. Amortization is the term for paying off a debt with regular installments on a fixed repayment schedule over a set amount of time. Lenders use amortization schedules for loans that have a fixed payoff date, such as mortgages. Each entry in the amortization table is a single payment against the loan. These payments are broken down into the amount going toward paying the principal of the loan and the amount going toward interest.