Business, Legal & Accounting Glossary
The yearly payments a person must make on a loan, comprising the principle and interest added over 12 months. For example, if a loan requires principal payments of $300 and interest payments of $50 per month, then the annual debt service of the loan is $4,200 ($350 times 12.)
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This glossary post was last updated: 20th November, 2021 | 0 Views.