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What following refers to the original amount of money that has borrowed on the loan?
principle
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 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 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 total interest paid on the principal amount borrowed?
The total interest paid on the principal amount borrowed is the additional money paid on top of the original loan amount as compensation to the lender for borrowing the money.
What following refers to the original amount of money that has borrowed on the loan?
principle
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 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.
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 the total interest paid on the principal amount borrowed?
The total interest paid on the principal amount borrowed is the additional money paid on top of the original loan amount as compensation to the lender for borrowing the money.
What is the predetermined amount the borrower must pay for the use of borrowed money?
Interest is a predetermined amount that a borrower must pay for the use of borrowed money. Interest is calculated as a percentage of the amount borrowed.
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 credit and debt?
Credit refers to money that is borrowed with the expectation of repayment, often with interest. Debt, on the other hand, is the amount of money that is owed to a lender or creditor. In simple terms, credit is the ability to borrow money, while debt is the amount that has been borrowed and needs to be repaid.
What s loan?
A Loan is to borrow something as in money and in the future you give the amount of money that you borrowed to the person that you borrowed the money from.
What is amount of money borrowed or saved?
principal
