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The amount of money borrow is called the?

Updated: 4/28/2022
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Guadiaz

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15y ago

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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.

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12y ago
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14y ago

It is called the Principal

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15y ago

principal

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15y ago

Principle

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Q: The amount of money borrow is called the?
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What do you understand by interest?

Among other things, it refers to a payment you make to borrow money. For example, you borrow 1000 dollars, and after a while, you pay back the 1000 dollars, plus an additional amount. This additional amount is called the "interest".


What it cost to borrow money?

nothing you borrow it and you pay it back in a certin amount of time in smaller amounts


What is the amount of money students can borrow under the Perkins loan?

27,500


What is the total amount of money students can borrow under the Perkins Loan?

27,500


Money a person pays to borrow money?

In home buying it's called points. 1 point = 1% of the loan amount, paid up front. ( you are pre paying interest )


When you borrow money from a bank the money charged to you for the loan is called?

It is called "Interest" (I'm not sure if this is right)


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 do people pay to borrow money?

The loan is called the principal. People pay interest to borrow money, but payment is interest plus money toward the principal.


What does a bank charge you when you borrow money from it?

When you borrow money from a bank, you are charged interest. interest is a fee for the use of someone else's mony and is usually a percentage of the amount of money borrowed. It is charged and paid each month, week, or day on the amount of borrowed money that has not yet been repaid.


What do you call a bank employee who helps customers borrow money?

A bank employee that helps customers borrow money would be called a loan officer.


Where can one borrow money from?

The most traditional place to borrow money is at a bank. If you have a job you can get a pay day advance loan based on the amount of money you make every payday. Pawn shops will give you money for property with thirty to sixty days to repay the borrowed amount or forfeit the property.


What is charges made for using another money?

The charge for illegally using other people's money is embezzlement. It refers to the theft or misappropriation of funds placed in one's trust.