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The amount of money you borrowed is called the what?

The original amount of money borrowed is known as the principal.


What refers to the original amount of money borrowed?

The original amount of money borrowed is known as the principal.


What is the total amount I will need to pay each month for my mortgage?

The total amount you will need to pay each month for your mortgage includes the principal amount borrowed, interest, property taxes, and insurance. This total amount is known as your monthly mortgage payment.


Specified amounts of money borrowers must pay lenders for the use of money or borrowed funds is are known as?

interest


What is the practice of lending money for interest known as?

The practice of lending money for interest is known as usury. This involves charging a fee for the use of borrowed money, typically expressed as a percentage over a period of time.


When a borrower receives the face amount of a discounted note less interest the amount is known as?

When a borrower receives the face amount of a discounted note less interest the amount, this is known as a discount loan. A discount loan is not actually discounted in the traditional sense.


Is the amount of the loan plus the interest?

Typically, this is called "Principle and Interest" (or P&I). If the taxes and insurance is added to this, it is known as PITI. The actual amount depends on many factors, including the principle amount, the interest rate, and the length of the loan.


What it is the amount of loan plus interest?

Typically, this is called "Principle and Interest" (or P&I). If the taxes and insurance is added to this, it is known as PITI. The actual amount depends on many factors, including the principle amount, the interest rate, and the length of the loan.


Can you explain how amortized loans work?

Amortized loans involve making regular payments that cover both the principal amount borrowed and the interest. Each payment reduces the loan balance, with more going towards interest at the beginning and more towards principal as the loan progresses. This gradual reduction in the loan balance is known as amortization.


People who agree to work together to influence government policy are known as what?

interest groups


Why present values are dependent upon interest rates?

Interest rates are also known as discount rates because in order to calculate the present value of a future amount, the future amount must be discounted back to the present


How do you find the original investment when given the time and interest?

Not enough information. You also need to know: * The final amount of money * Whether simple or compound interest is known