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What is the total amount borrowed called?

Anonymous

∙ 12y ago

Updated: 10/16/2024

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Continue Learning about Math & Arithmetic

The verification that the total dollar amount of the debits equals the total dollar amount of the credits in the ledger is called?

The verification that the total dollar amount of the debits equals the total dollar amount of the credits in the ledger is called the balance sheet.

The initial amount of money borrowed or saved?

principal

What is a pre-established amount that can be borrowed on demand?

Line of credit

When you borrowed $50 from your rich cousin, and then had to pay her back $60, what is the original $50 called?

The original $50 loan would be considered the principal amount. The extra $10 would be considered interest charged on the principal.

Is a charge levied for borrowing money generally earning a percentage of the amount borrowed?

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