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Silencio Tarsier Posted 14 years ago
Vocabulary

In an amortized martgage, part of each monthly payment recudes the principal so that the home is owned free and clear after 15 or 30 years.

In an amortized martgage, part of each monthly payment recudes the principal so that the home is owned free and clear after 15 or 30 years.

I think my problem is about "part of..." and "principal" "owned free" "clear"
  

Top answer

Could you be more specific about which words you do not understand? The sentence contains no idioms except perhaps 'free and clear', which means 'completely'. The other words are in your dictionary.

— Mister Micawber

  • Could you be more specific about which words you do not understand?
  • The sentence contains no idioms except perhaps 'free and clear', which means 'completely'.
  • The other words are in your dictionary.
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3 Answers
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Could you be more specific about which words you do not understand? The sentence contains no idioms except perhaps 'free and clear', which means 'completely'. The other words are in your dictionary.
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Hello Silencio Tarsier,
The answer to your question requires some familiarity with how the banking and financial systems function in the West. It may be the same in your country - I am not educated in this and I do not know how it works in China.
In western capitalist nations, very few people possess enough money to purchase their home without taking out a mortgage (loan) from a bank or ot
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Thanks Silencio - I appreciate the information.
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