What is the term for the method of gradually repaying a debt through scheduled payments of both principal and interest, ensuring the loan is fully settled by its due date?

Explanation

Amortization refers to the systematic process of paying off a loan over time through consistent installments that cover both the interest and principal, allowing the debt to be completely cleared by the end of the loan term. Other options like Loan Repayment or Debt Obligation are related concepts but do not specifically define this gradual repayment method.