Final answer:
An amortizing loan is a loan that is completely repaid by a series of regular equal installment payments of principal and interest.
Step-by-step explanation:
A loan that is completely repaid by a series of regular equal installment payments of principal and interest is called an amortizing loan. With an amortizing loan, the borrower pays the same amount each month, with a portion going towards the principal and another portion going towards interest. As the borrower continues to make payments, the principal balance decreases until the loan is fully repaid.