Question: 8 Question 9 (1 point) For a mortgage what do term and amortization mean? Term is the legal agreement, and amortization is the life insurance

8 Question 9 (1 point) For a mortgage what do "term" and "amortization" mean? "Term" is the legal agreement, and "amortization" is the life insurance required. "Term" is the period to used calculate the payments, and "amortization" is the renewal period. "Term" is the renewal period, and "amortization" is the period used to calculate the payments. Term and Amortization do not apply to Canadian style mortgages

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