Business and Personal Finance Dictionary

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• SPLIT-TERM AMORTIZATION
  
  An amortization schedule that has periodic payments inconsistent with the maturity date of the debt. For example, a 5/10 amortization schedule requires payments just large enough to fully amortize the debt in 10 years together with a final maturity date only 5 years in the future. Split-term amortization schedules result in balloon payments at maturity.
  
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