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The loan is called the principal. People pay interest to borrow money, but payment is interest plus money toward the principal.
No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.
Banks make money by lending money to people and charging people for borrowing. The amount banks charge is called interest. Banks borrow money from other people and pay them interest on the amount borrowed. Banks charge more interest on the money they lend than they pay one the money they borrow. That is how they make money. When people deposit money with a bank, the bank is literally borrowing money from some people so they can lend it to other people. That is why banks pay interest.
You borrow money and must pay back in full plus interest.
Money that is borrowed is not taxable. If you borrow it and don't pay it back, it can be classified as income and be subject to income tax. If you borrow money and are not being charged interest, the government will consider the cost of interest to be income that is taxed.
The loan is called the principal. People pay interest to borrow money, but payment is interest plus money toward the principal.
Principal is the amount of money you borrow. Interest is the fee charged by the lender (or bank) to use their money. The total amount of money you pay back is the principle + interest.
loan
If you borrow money on agreed terms, including the obligation to pay interest, then choose not to pay the interest, that would be stealing.
No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.
No, you cannot.
borrow money
The Republicans spend now and pay later. They borrow money to spend now. Democrats tax for money to spend now. It is called "pay as you go" by Democrats and "Tax and Spend" by Republicans who are "Borrow and Spend" players.
You will have to borrow enough money to pay off the balance on the car you now have plus the price of the car you are buying.
i think you should not borrow the money because how are you going to pay back but if you have a plan to pay back go ahead and borrow
Ethically: If you borrow, you should repay.
nothing you borrow it and you pay it back in a certin amount of time in smaller amounts