Sammie Jo wants to begin saving for her retirement in 35 years. She researched and found an annuity that pays 5.25% interest, compounded quarterly. She is undecided on her monthly payment. Use your TVM solver to find her future value of the following monthly payments into her annuity.  a) $250  N:     P/Y:  I%:     C/Y: PMT:                                        End or Begin    FV: $25,610.11 $267,987.65 $307,321.35 $1,000,000.00

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Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.