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Loan
Karl Runte
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Sum of money borrowed to buy a house is called what?
Loan
What do you mean by loan?
A loan is a thing that is borrowed, especially a sum of money that is expected to be paid back with interest. Banks can give these out.
How does a martgage help someone buy a house?
The Bank gives them a lump sum of money. This is all the money required to buy the specific house. Obviously the individual or couple does not have enough money at the current moment so they will make monthly payments to pay the bank back the money they loaned them. However there is also interest being charged.
What is a house loan?
Housing loan is actually different from mortgage loan. It is a loan that is taken to purchase or construct a house. It may appear the same, but mortgage loan includes loan that is granted again security of a property. It is money borrowed from a licensed money lender or a financial institution primarily a bank. This consist an adjustable or fixed interest rate and payment terms.
What is a bunch of money called?
riches vast sum of money considerable sum of money or gold mine
Sum of money borrowed to buy a house is called what?
Loan
Word meaning the sum charged for borrowed money?
The money being borrowed is the "principal." The sum charged for borrowing the money is the "interest."
What does money costs of 7 percent mean?
If you borrow a sum of money you will have to pay back 7% more than you borrowed.
What do you mean by loan?
A loan is a thing that is borrowed, especially a sum of money that is expected to be paid back with interest. Banks can give these out.
How does a martgage help someone buy a house?
The Bank gives them a lump sum of money. This is all the money required to buy the specific house. Obviously the individual or couple does not have enough money at the current moment so they will make monthly payments to pay the bank back the money they loaned them. However there is also interest being charged.
What is a real world problem that involves a percent?
The amount of money that a money lender will charge you, per period (day, week, month, year) to borrow money will be a percentage of the sum borrowed.
What is the math definition of principal?
The "principal" is the sum of money invested or borrowed, before interest or other revenue is added, or the remainder of that sum after payments have been made. In math, this applies to finance.
What are computers for sale?
They are computers you can buy for a certain sum of money.
What is the advantage in paying with a lump sum?
The advantage of a person paying with a lump sum is that it will affect the interest that a person will pay on the money they have borrowed. Paying a lump sum will also help a person because a person will pay less on their interest and mortgage.
Is a sum of money?
55% of a sum of money is Rs 1.1 the sum of money is
Does being the co owner of a car give you credit?
Not necessarily. It is possible to co-own a car, be on title, and not have borrowed money for the vehicle. Credit history is established when you borrow money. It is a record of how you have paid the money back. If you purchased a car with someone else by paying one lump sum, and never borrowed; then co-owning would not have established any credit history for you.
Does being the co-owner of a car give you credit?
Not necessarily. It is possible to co-own a car, be on title, and not have borrowed money for the vehicle. Credit history is established when you borrow money. It is a record of how you have paid the money back. If you purchased a car with someone else by paying one lump sum, and never borrowed; then co-owning would not have established any credit history for you.
