What is interest and amortization for something

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Reference no: EM133983235

Problem

Managing your finances, savings and loans. Describe the pros and cons of saving money in a bank account, mutual funds and stocks. Olle has taken out a loan to buy an apartment, he has a permanent job to be able to take out a loan. In order to take out the loan, he had to use all his savings, so now the savings account is empty. Olle's expenses go to rent, food, phone subscription, broadband, home insurance, restaurant visits, the car, clothes, Spotify and Netflix. She is able to pay all this every month but can't save any money. Help Olle by giving different suggestions or solutions on what he can do differently and justifying the suggestions as to why your suggestions are good. Get the instant assignment help. What is interest and amortization for something? Explain what the words mean. What happens to the interest you pay if you have amortized your loan?

Reference no: EM133983235

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