R2R Team Lead Interview Questions and Answers

Amortization is the process of gradually reducing or paying off a debt over a fixed period of time.

• Amortization involves making regular payments towards a loan or debt.

• Each payment consists of both principal (the original amount borrowed) and interest (the cost of borrowing).

• The payments are spread out over a fixed period, typically in equal installments.

• As the payments are made, the outstanding balance decreases until the debt is fully paid off.

• Amortization is commonly used ...read more

Positive Pay is a fraud prevention service offered by banks to help businesses detect and prevent check fraud.

• Positive Pay is a process where businesses provide their bank with a list of checks they have issued.

• When a check is presented for payment, the bank compares the details of the check with the list provided by the business.

• If the details match, the check is paid. If there is a discrepancy, the bank contacts the business for verification.

• Positive Pay helps businesses pr...read more