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What refers to the original amount of money borrowed?
The original amount of money borrowed is known as the principal.
What following refers to the original amount of money that has Bart on the loan?
The original amount of money that Bart has on the loan is referred to as the "principal." This is the initial sum borrowed or invested, excluding any interest or fees. It serves as the base amount upon which interest calculations are made throughout the life of the loan.
What refers to the original amount of the money that was borrowed on a loan?
The original amount of money borrowed on a loan is referred to as the "principal." This is the initial sum that the borrower receives and is obligated to repay, excluding any interest or fees. The principal amount is the basis for calculating interest over the life of the loan.
What is the difference between a principal vs principle loan?
A principal loan refers to the original amount borrowed, while a principle loan refers to a fundamental belief or rule.
What is the amount of money borrowed or deposited called?
The amount of money borrowed or deposited is called the "principal." In the context of a loan, it refers to the original sum of money borrowed before any interest is applied. For deposits, it signifies the initial amount placed into a financial account. The principal is crucial as it serves as the basis for calculating interest earnings or payments.
What refers to the original amount of money borrowed?
The original amount of money borrowed is known as the principal.
What following refers to the original amount of money that has Bart on the loan?
The original amount of money that Bart has on the loan is referred to as the "principal." This is the initial sum borrowed or invested, excluding any interest or fees. It serves as the base amount upon which interest calculations are made throughout the life of the loan.
What refers to the original amount of the money that was borrowed on a loan?
The original amount of money borrowed on a loan is referred to as the "principal." This is the initial sum that the borrower receives and is obligated to repay, excluding any interest or fees. The principal amount is the basis for calculating interest over the life of the loan.
What is the difference between a principal vs principle loan?
A principal loan refers to the original amount borrowed, while a principle loan refers to a fundamental belief or rule.
What is the amount of money borrowed or deposited called?
The amount of money borrowed or deposited is called the "principal." In the context of a loan, it refers to the original sum of money borrowed before any interest is applied. For deposits, it signifies the initial amount placed into a financial account. The principal is crucial as it serves as the basis for calculating interest earnings or payments.
What is the breakdown of the principal payment in this loan?
The breakdown of the principal payment in a loan refers to the portion of each payment that goes towards reducing the original amount borrowed.
Which refers to the predetermined amount an individual must pay for the use of borrowed money?
The predetermined amount an individual must pay for the use of borrowed money is called interest.
Which term refers to the predetermined amount an individual must pay for the use of borrowed money?
The predetermined amount an individual must pay for the use of borrowed money is called interest.
What is principle amount?
The amount of a loan or investment that does not include interest. It's the amount borrowed, or the amount currently owed in a loan (including mortgages) and the amount invested (for investments.)
Can you explain what outstanding principal means in terms of a loan or debt?
Outstanding principal refers to the remaining amount of money that a borrower still owes on a loan or debt. It represents the original amount borrowed minus any payments that have been made towards the debt.
What is the difference between a principle and principal loan, and how does it impact the overall repayment process?
The difference between a principle and principal loan is that the principal is the initial amount borrowed, while the principle is a fundamental rule or belief. In terms of loans, the principal amount is the original sum borrowed, while the principle refers to the basic terms of the loan agreement. Understanding this difference is important because the principal amount determines the total repayment amount, including interest.
Can you explain what the outstanding principal balance means in relation to a loan or mortgage?
The outstanding principal balance refers to the amount of money you still owe on a loan or mortgage, excluding interest and other fees. It represents the original amount borrowed minus any payments made towards the principal.
